After the USA, the European Union Followed This Stock Exchange!

Europol, the law enforcement agency jointly established by European Union member countries, has been after the crypto money exchange Bitzlato, which has been sanctioned in the United States recently. Authorities announced that they seized $19 million worth of cryptocurrency wallets on the exchange due to the sanction.

Europol officials shared some data on the stock market in a statement they made on their official website today. According to European officials, almost half of the €2 billion worth of crypto assets held by Bitzlato are used for illegal activities.

What Altcoins Are Available on Bitzlato?

The majority of cryptocurrencies on the exchange consist of Bitcoin, Dash and Dogecoin. Everyone knows the popularity of Bitcoin and Dogecoin, but the massive availability of the privacy-focused altcoin DASH aroused suspicion.

Europol drew attention to the fact that most of the cryptos sold on the exchange are converted into Russian Rubles:

“The conversion of cryptocurrencies into fiat money is not illegal. However, our investigation within the scope of cybercrime revealed that a large amount of black money was returned from the stock market. Much of the black money is linked to crimes such as fraud and ransomware.”

On January 18, the USA detected Bitzlato’s illegal activities and arrested the founder of the exchange, Anatoly Legkodymov. Europol has issued arrest warrants for individuals linked to the stock market in Belgium, Portugal, Spain and the Netherlands.

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