FinCEN, the financial crimes unit of the US Treasury Department, described Binance as the “counter party” in the Bitzlato operation.
FinCEN accuses Russian cryptocurrency exchange of laundering $700 million in assets Bitzlato in his case Binance‘I opponent named it. According to reports from FinCEN, Bitzlato was among the first of the high-volume exits between 2018 and 2022. BinanceIt was seen that . Russia-linked in the second seat of this ranking darknet marketplace Hydra and in third place is the pyramid scheme, which is allegedly based in Russia. “The Finiko” took place. The counterparties that send the most to Bitzlato between the same dates are: hydra, local bitcoins and TheFiniko was recorded as.
Bitzlato “primary money laundering concern” FinCEN aims to prohibit the forwarding of funds, including Bitzlato, by any local financial institution or any covered financial institution in the first place. In the statement made by the authorities, the following details about Bitzlato’s activities were highlighted:
Looking at Bitzlato’s money transfer activities, it appears that besides receiving ransomware revenues, it is involved in fraudulent operations linked to darknet markets and Russia. All data confirms the exchange’s deep links to illegal activities.
On the other hand, the allegations that Binance was involved in the Bitzlato operation have raised some concerns about the Russian ties and operations of the exchange. A statement on the Binance spokesperson reported that the stock market always works with law-making institutions.
Binance is pleased to provide assistance to international law enforcement to support this investigation. This is an example of Binance’s commitment to working collaboratively with law enforcement partners around the world.
In the statement made by the US Treasury Department yesterday, it was declared that the site of the Russian crypto exchange Bitzlato was closed and accusations were launched.