Cryptocurrency exchanger Bitzlato resumed withdrawals

Cryptocurrency exchanger Bitzlato resumed withdrawals

Author: Robert Strickland (crypto expert)

Cryptocurrency exchanger Bitzlato resumed withdrawals for users
The platform provided instructions on how to withdraw assets but warned that all coins are marked by AML services as high-risk, and recommended testing the transfer on a small amount

Cryptocurrency exchange Bitzlato, which is accused by U.S. authorities of money laundering, said in a Telegram feed that it has resumed withdrawals, 42 days after operations were stopped.

"Bitzlato is the first site in the world to take a stand against sleazy gambling by keeping the idea of freedom and giving users their money back," the report said.

On Jan. 18, Bitzlato co-founder Anatoly Legkodimov was arrested in Miami on money laundering charges.

French authorities, in cooperation with Europol and partners in Spain, Portugal, Belgium, and other European countries, dismantled Bitzlato services in France and arrested four of its employees. €18 million in cryptocurrency, vehicles and electronics were seized. Another €50 million in crypto assets were frozen in more than 100 accounts on other exchanges.

"Gandalf lost." What is known about the case against Bitzlato

Bitzlato reported in late February that proceedings were still ongoing in Europe, but the project team hopes it will be able to recover funds that were "illegally seized by French authorities."

On March 1, the platform provided instructions for the withdrawal of funds. At the same time, Bitzlato warned that all coins are marked as high-risk by AML services (AML tracking tools) and recommended testing the withdrawal of assets on a small amount.

Other news

WSJ: Crypto-industry participants have started to prepare for the collapse of Binance
Binance is leaving Russia. Why it happened and what to do for its users
SEC once again postpones bitcoin-ETF decision
Unsubtle Optimism. How to make Ethereum faster and cheaper for everyone
JPMorgan has banned any cryptocurrency transactions for UK clients
Rapper Snoop Dogg was offered $194 for costing him $7 million NFT