Official announcements from regulatory bodies

Bitzlato Founder Sentenced to 18 Months for $700 Million Illegal Crypto Transactions on July 18

Jul 19, 2024, 06:15 AM

On July 18, the US District Court in Brooklyn, New York, sentenced Anatoly Legkodymov, the Russian founder of the Bitzlato cryptocurrency exchange, to 18 months in prison. Legkodymov was found guilty of operating an unlicensed money-transmitting business that facilitated over $700 million in illegal cryptocurrency transactions, masking proceeds from illegal gambling and drug deals. The court ruled that the 18 months he had already served in pre-trial detention was adequate punishment, and he will not face additional jail time.