TechFlow news — Anatoly Legkodymov, founder of cryptocurrency exchange Bitzlato, admitted guilt in a New York federal court to money laundering charges for processing $700 million in illicit funds, including hundreds of millions of dollars in ransomware proceeds.
Bitzlato Ltd., a cryptocurrency exchange, served as a primary conduit for buyers and sellers on the darknet market and a safe haven for ransomware criminals. As part of the plea agreement, Legkodymov has agreed to dissolve Bitzlato and relinquish any claim to approximately $23 million in seized assets belonging to the platform.
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