Hydra

Bitcoin

Read

<div class="cryptonews">
 <p class="is-style-lead">Bitzlato has <a rel="noopener noreferrer nofollow" title="suspend" href="https://thebittimes.com/tag/suspend.html">suspend</a>ed the <a rel="noopener noreferrer nofollow" title="withdrawal" href="https://thebittimes.com/tag/withdrawal.html">withdrawal</a> of Bitcoins (BTC) from the platform indefinitely amid legal problems in France.</p>
 <p>On Dec. 27, the crypto exchange platform Bitzlato announced the suspension of special balance <a rel="noopener noreferrer nofollow" title="withdrawals" href="https://thebittimes.com/tag/withdrawals.html">withdrawals</a> and technical customer support. The administration called it a “temporary measure” to prepare for upcoming court hearings regarding the seized assets of users in France.</p>
 <blockquote class="wp-block-quote">
  <p>“We are faced with the need to <a rel="noopener noreferrer nofollow" title="suspend" href="https://thebittimes.com/tag/suspend.html">suspend</a> special balance <a rel="noopener noreferrer nofollow" title="withdrawals" href="https://thebittimes.com/tag/withdrawals.html">withdrawals</a> and technical support.”</p> <cite>Bitzlato </cite>
 </blockquote>
 <p>At the same time, users of the web version and the Bitzlato app received access to a partial <a rel="noopener noreferrer nofollow" title="withdrawal" href="https://thebittimes.com/tag/withdrawal.html">withdrawal</a> of Bitcoins from Mar. 20. From Sep. 14, the platform increased the funds limit to 60%.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> FinCEN says Binance is largest Bitzlato counterparty
 </div>
 <p>Bitzlato suspended operations on Jan. 18, the day after the arrest of its founder, Anatoly Legkodymov, in Miami. He subsequently pleaded guilty to transferring and laundering criminal funds. In addition, the entrepreneur agreed to close the platform and waive any claims for about $23 million related to the exchanger’s seized assets. Legkodymov filed a petition for release from custody as part of the plea deal.</p>
 <p>The French Prosecutor’s Office then initiated an investigation into the company. According to Europol, Bitzlato converted criminal-related assets worth about €1 billion ($1.08 billion). The amount includes $700 million for the darknet marketplace Hydra and $15 million for ransomware operators.</p>
 <p>Law enforcement officers also seized the platform’s hot wallet, which contained about 35% of user funds in all cryptocurrencies at the time of the operation.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Bitzlato crypto exchange co-founder pleads guilty to AML violations
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitzlato-suspends-bitcoin-withdrawals-tbt74899.html">https://thebittimes.com/bitzlato-suspends-bitcoin-withdrawals-tbt74899.html</a></p>

Bitzlato suspends Bitcoin withdrawals

TheBitTimes

Other articles published on Dec 27, 2023

Ripple exec: regulatory priority as focus shifts to tokenization in APAC

Part II: Explore Zeebu through Insightful Q&A, Curated for the Community!

U.S. national debt reaches new all-time high

Crypto: ‘Solana Is Ethereum,’ Says SOL Founder

MicroStrategy's Bold Move: Adding 14,620 BTC to Its Massive Bitcoin Holdings

Asset Management Company Hashdex Meets with SEC Officials for Spot Bitcoin ETF

Join our free newsletter for daily crypto updates!