Co-founder of criminal bitcoin exchange Bitzlato released again

A month ago, the bitcoin price suddenly became very volatile when another trading platform got into trouble. The relatively unknown exchange Bitzlato was not bankrupt, but was shut down by the police because the platform was often used by criminals. Strangely enough, the founder has already been released.

Co-founder bitcoin exchange free again

That writes the Russian news site REN TV. The platform is said to have laundered more than a billion euros for criminals. Originally it was a Russian company. Russian co-founder Anatoly Legkodymov was in Miami and was arrested by Interpol. However, Anton Shkurenko, another co-founder, stayed in Moscow. CoinDesk writes that he was arrested by the Russian police because he was on Interpol’s wanted list.

But after an identity check and a conversation at the police station, he was released. It turns out that he wants to cooperate if law enforcement asks for his help in any future investigations, and that he is also exempt from arrests in the future.

However, the situation for Shkurenko is slightly different than for other business leaders. He told CoinDesk that he was “tech consultant to Bitzlato, which meant he had access to the exchange’s wallets. He was therefore directly involved in sending the money, but he would have placed the responsibility of many wallets with colleagues.

Yet he would not have been aware that he was helping criminals. The company would do everything it could to prevent lawbreakers from laundering their money. “How should I react if someone gives me money while there [nog geen] allegations of crime against him?” declared the chief executive. It would have been unclear that much of the money came from criminals in the first place.

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Regulations on crypto exchanges are getting tougher

Regulators and law enforcement officials are increasingly scrambling for the market. For example, not so long ago it was possible for many crypto exchanges, including Binance, to take advantage of the loopholes. Kraken did more or less the same with Iranian customers.

That is rapidly diminishing. Exchanges are now forced to register with the countries where they operate. Interpol even wants to put the metaverse under surveillance, because criminals did their thing here too.

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