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.
🚨 #Bitzlato: senior management arrested.
The operation, led by 🇫🇷 & 🇺🇸 authorities with Europol support, took down the service’s digital infrastructure in France.
👥 Leading members of the platform’s management were also interrogated.
Press release ⬇️https://t.co/k0dGy3rNQk pic.twitter.com/lv5stazDeY
— Europol (@Europol) January 23, 2023
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.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!