Bitzlato has temporarily suspended withdrawals of Bitcoin from the platform. Bitzlato stated that this is a temporary measure in preparation for the upcoming court hearing regarding the seizure of user assets in France.

Anatoly Legkodymov, the major shareholder and co-founder of virtual currency exchange Bitzlato registered in Hong Kong, will plead guilty to charges of laundering $700 million. Legkodymov was arrested in Miami in January and charged with transferring illegal funds. Federal prosecutors said Legkodymov operated Bitzlato as an unlicensed currency exchange and exchanged $700 million in encrypted currency with Hydra Market, a market for drugs, stolen financial information, and money laundering services. The indictment stated that Bitzlato also received more than $15 million in ransomware proceeds, and Legkodymov and his team knew that the exchange was being used by criminals.

The founder of crypto exchange Bitzlato, who is facing a money laundering case in the U.S., is seeking support from members of the community. Anatoly Legkodymov was arrested in January for his role in the trading platform which allegedly processed millions of dollars’ worth of illicit funds.

Tron's Justin Sun said that the SEC's charges against him lacks merit and the SEC should work on getting clear regulatory guidelines.

The cryptocurrency exchange – Bitzlato – enabled customers to withdraw up to 50% of their bitcoin funds stuck on the venue. The US Department of Justice (DOJ) closed the firm in January for allegedly processing more than $700 million worth of illegal funds and arrested its founder – Anatoly Legkodymov. The company revealed that users could withdraw a maximum of 50% of their assets previously frozen by the authorities. Those willing to do so should use the Telegram bot – bz_phoenix_bot – to move funds to another exchange or an external wallet. (cryptopotato)

Bitzlato users can now partially withdraw their bitcoin funds from the dismantled cryptocurrency exchange, according to a media report. The Russia-linked trading platform was targeted by Western law enforcement and had its France-based server infrastructure seized in January. (Bitcoin.com)

The founder of cryptocurrency exchange Bitzlato has denied guilt in a money laundering case in the United States. Anatoly Legkodymov was arrested in Miami, in mid-January, for his role in running the trading platform which allegedly processed over $700 million in illicit funds.

Russia-linked cryptocurrency exchange Bitzlato has begun processing withdrawals of digital assets belonging to its customers. The trading platform was shut down in an operation carried out by law enforcement agencies in the U.S. and Europe alleging that it had been used to launder dirty money.

Local Russian media outlets reported on Monday that Bitzlato co-founder Anton Shkurenko was detained in Moscow on Feb. 6 at the request of Interpol. However, according to a Feb. 10 report from CoinDesk, Shkurenko was stopped and detained by the local police for an ID check, then promptly let go after a conversation.

Russian authorities have reportedly arrested the second co-founder of seized cryptocurrency exchange Bitzlato. The man, who recently promised to restore the platform’s operations from Russia, was detained at the request of Interpol and may face extradition to France.