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Binance wired almost $346 million to the investigated exchange Bitzlato

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Bitzlato had promoted the lax background checks of customers, the Justice Department said, adding that when the exchange did ask users identification information“repeatedly allowed them to provide information pertaining to ‘fictional people’“.

Binance Implication

Binancethe world’s largest crypto exchange, was among Bitzlato’s top three counterparts by bitcoin amount received between May 2018 and September 2022, said last week the US Department of the Treasury Financial Crimes Enforcement Network (FinCEN).

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Bitzlato, registered in Hong Kongwas an “important money laundering concern” related to the russian illicit finance, added FinCEN, which will prohibit the transmission of funds to Bitzlato by financial institutions from the United States and other countries as of February 1. It did not name Binance or other individual companies among those subject to the ban.

A Binance spokesperson said by email that he had “provided substantial assistance” to international security forces to support his research on Bitzlato. The company is committed to “working collaboratively” with law enforcement, they added, refusing to give details about his relations with Bitzlato or the nature of your cooperation with such agencies.

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For his part, Legkodymov He has not done no public comment since his arrest in Miami last week and did not respond to emailed requests for comment.

Source: Ambito

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