China-Based Hydra-Linked Cryptocurrency Exchange Taken Down

The United States Department of Justice(DOJ) in cooperation with international law enforcement agencies shutdown Bitzlato Limited, a Hong Kong-based cryptocurrency exchange, and arrested its founder and major shareholder for facilitating the transfer of illicit funds.

Seizure banner uploaded on Bitzlato's website.

According to an announcement by the DOJ, Bitzlato was founded in 2016, by 40-year-old Anatoly Legkodymov, a Russian citizen who resides in China. Legkodymov and his co-founder run Bitzlato with minimal Know Your Customer (KYC) requirements.
Bitzlato's lack …

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