Posted 12/10/2023, 7:45:25 PM
Crypto Exchange CEO Pleads Guilty to Running Unlicensed Business That Enabled $700M in Illicit Transactions
- Former crypto exchange CEO Anatoly Legkodymov pleaded guilty to operating an unlicensed money-transmitting business
- Legkodymov's exchange Bitzlato did not implement proper know-your-customer (KYC) procedures
- Bitzlato facilitated over $700 million in transactions with users of the dark web marketplace Hydra
- Legkodymov was arrested in January when US authorities targeted Bitzlato with money laundering charges
- As part of a plea deal, Legkodymov agreed to dissolve Bitzlato and release claims to $23 million in seized assets