Claim BonusJust In: Binance Caught Moving $346 Million From This Troubled Crypto Exchange
Binance, the world’s largest crypto exchange has been caught processing around $346 million from the seized digital asset exchange, Bitzlato. As per reports, the transactions were done in Bitcoin. Bitzlato founder, Anatoly Legkodymov was arrested by the US authorities for alleged charges of running a money laundering scheme.
Binance received BTC till September 2022
As per a report, Binance was one of the top three counterparties on the Bitzlato that received Bitcoin between May 2018 and September 2022. These details were revealed by the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN).
It added that another user which interacted with the Bitzlato was Hydra, a Russian darknet drugs marketplace. While another major user has been reported to be a small crypto exchange called LocalBitcoins and an investment website called Finiko.
Reuters reported that Binance’s spokesperson has replied to the matter. They said that the exchange has provided substantial assistance to international law enforcement. Binance is willing to support the investigation of Bitzlato.
The spokesperson added that they are committed to working together on the matter. However, they decline to give details about their trade with Bitzlato. However, Reuters reported Bitzlato and Hydra didn’t respond to the matter till now.
Meanwhile, the report adds that they hold no evidence that Binance or other users broke any kind of law.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Silver Records Over $1B in Volume on Hyperliquid, Surpassing Solana and XRP
- Crypto Set to Catch Up Once Gold and Silver Take a Breather: Tom Lee
- Crypto Market Bill Set to Advance Thursday as Democrats Settle Key Concerns
- Gold vs. Bitcoin: Will BTC Be the Next Global Reserve Currency? Peter Schiff Says No
- Experts Advise Caution As Crypto Market Heads Into A Bearish Week Ahead
- XRP Price Prediction as Ripple Scores Big Partnership in Cash-Rich Saudi Arabia
- Bitcoin Price Prediction As Gold Breaks All-Time High
- Bitcoin and XRP Price At Risk As US Govt. Shutdown Odds Reach 73%
- PEPE vs PENGUIN: Can Pengu Price Outperform Pepe Coin in 2026?
- Binance Coin Price Outlook As Grayscale Files S-1 for BNB
- Solana Price Prediction as SOL ETF Inflows Outpace BTC and ETH Together
