European law enforcement authorities have detained four more members of the executive team of crypto exchange Bitzlato, Europol announced. According to the police agency, nearly half of the funds processed through the platform were associated with various criminal activities.

Little-known outside the Russian-speaking market, Bitzlato operated globally, Europol said, facilitating the quick conversion of digital currencies, including bitcoin, ethereum, litecoin, bitcoin cash, dash, dogecoin, and tether, into rubles. According to quoted estimates, the platform received a total of €2.1 billion worth of assets.

“While the conversion of crypto assets into fiat currencies is not illegal, investigations into the cybercriminal operators indicated that large volumes of criminal assets were going through the platform,” the agency elaborated and highlighted:

The analysis indicated that about 46% of the assets exchanged through Bitzlato, worth roughly €1 billion, had links to criminal activities.