Bitzlato

Bitzlato was a platform that offered cryptocurrency exchange and peer-to-peer (P2P) services. The exchange was registered in Hong Kong but had close ties with Russia as one of its founders is Russian, and its entire YouTube channel is only available in the Russian language.

Bitzlato offered trading for various assets, including cryptocurrency and other market instruments. Users of Bitzlato had access to its digital wallet, which could be used to exchange cryptocurrencies and other assets.

Bitzlato was seized and shut down by the Gendarmerie Nationale cyberspace command, a law enforcement agency in France. In January 2023, the founder of the company, Anatoly Legkodymov, was arrested in the United States for allegedly processing illicit funds. Other people associated with the exchange, such as the CEO and financial director, were arrested in Europe.

The Department of Justice alleges that Bitzlato allowed people to use the platform for transactions without verifying their identity. This led to approximately half of all the transactions and digital assets on the platform being linked to crime. It is reported that transactions valued at more than $700 million were linked to Hydra Market, which was a darknet market for drugs, identity theft materials, money laundering services, and ransomware products.