U. S. conducting check on Bitzlato crypto exchange
2023.01.23 09:32
U. S. conducting check on Bitzlato crypto exchange
By Tiffany Smith
Budrigannews.com – The good news from the previous week is that Bitcoin (BTC) has continued to rise, increasing by approximately 10% between January 16 and January 23. However, the worrying trend of crypto companies making headlines for legal issues has not changed.
Anatoly Legkodymov, the company’s founder, was detained by the United States Department of Justice following the launch of a “major international cryptocurrency enforcement action” against the China-based cryptocurrency company Bitzlato.
Bitzlato is a “primary money laundering concern” associated with Russian illicit finance, according to the department. The exchange had reportedly received $206 million from darknet markets, $224.5 million from scams, and $9 million from ransomware attackers before the DOJ action.
According to the United States Financial Crimes Enforcement Network, Binance was one of Bitzlato’s “top three receiving counterparties” when it came to Bitcoin transactions. However, it did not mention Binance as one of the most popular counterparties for sending money.
The cryptocurrency user allegedly responsible for the multimillion-dollar exploit of the decentralized exchange Mango Markets has been the subject of charges from both the Commodity Futures Trading Commission and the United States Securities and Exchange Commission.
It is alleged that Avraham Eisenberg used the MNGO governance token of Mango Markets to steal approximately $116 million worth of cryptocurrency from the platform.
The Central Bank of Iran is said to be working with the Russian government to jointly issue a new stablecoin that is backed by gold. Iran and Russia want to do this. In international trade, the “token of the Persian Gulf region” would be used as a payment method.
Instead of using fiat currencies like the US dollar, the Russian ruble, or the Iranian rial, the stablecoin aims to make cross-border transactions possible. A special economic zone in Astrakhan, where Russia began accepting Iranian cargo shipments, is said to be where the potential cryptocurrency would operate.
More:
Australia Does Not Consider Cryptocurrency to be Financial Products
Africa Legalizes Cryptocurrencies
700 million in assets can be confiscated from FTX
