Bitzlato

The European Union Agency for Law Enforcement Cooperation released a statement on Monday detailing its latest action against troubled exchange Bitzlato. Per the release, Europol is now in possession of digital wallets holding $19M worth of crypto which, Europol alleges the firm procured unlawfully. Europol's latest release also claims that about half of Bitzlato's transactions are tied to criminal activities. Agencies Join Forces to Target Bitzlato The strike on the crypto firm occurred via an operation in which Europol was…

On Wednesday, the United States Department of Justice (DOJ) shut down Hong Kong-based crypto exchange, Bitzlato. The DOJ released a press release stating that the exchange was a den for criminal activities—from money laundering to ransomware. There were also claims that Bitzlato had received more than $15 million in ransomware payments. Furthermore, the exchange allegedly processed more than $700 million in illicit transactions. Organized Crackdown The seizure of the crypto exchange was a coordinated operation by law enforcement authorities in…