{"id":25416,"date":"2024-07-19T11:00:18","date_gmt":"2024-07-19T08:00:18","guid":{"rendered":"https:\/\/coinengineer.io\/?p=25416"},"modified":"2024-07-19T10:34:58","modified_gmt":"2024-07-19T07:34:58","slug":"bitzlato-founder-spared-further-jail-time-after-processing-700m-in-illicit-proceeds","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitzlato-founder-spared-further-jail-time-after-processing-700m-in-illicit-proceeds\/","title":{"rendered":"Bitzlato Founder Spared Further Jail Time After Processing $700M in Illicit Proceeds"},"content":{"rendered":"<p><strong>Anatoly Legkodymov<\/strong>, founder of defunct crypto exchange Bitzlato, spared further jail time after serving 18 months for processing $700M in illicit proceeds.<\/p>\n<p><span id=\"input-sentence~0\">Having handled over $700 million in illicit <strong>Russian dark-web income<\/strong>, <strong>Anatoly<\/strong> <strong>Legkodymov<\/strong>, the developer of the insolvent bitcoin exchange Bitzlato, has been spared further jail time. Judge Eric Vitaliano sentenced Legkodymov to time served in a New York District Court on July 18 after his guilty plea to operating an illegal money-transmitting business.<\/span><span id=\"input-sentence~1\"> Legkodymov had already served eighteen months in Brooklyn&#8217;s Metropolitan Detention Centre (MDC), regarded by the court more than enough for his crimes. Vitaliano said, &#8220;it&#8217;s a horrible place and the court does consider that.&#8221;<\/p>\n<p><strong>Legkodymov<\/strong> expressed grief and acknowledged he might have done more as Bitzlato&#8217;s producer during his court testimony.<\/span><span id=\"input-sentence~2\"> &#8220;I realize now as the entrepreneur of the company, I could have done more,&#8221; he said. On January 17, 2023, Legkodymov was arrested in Miami in conjunction with a coordinated global effort to halt commerce. The effort included the United States, Spain, Portugal, Cyprus, and the European Union Agency for Law Enforcement Cooperation (Europol).<\/span><span id=\"input-sentence~3\"><\/p>\n<p>Europol said that over 46% of the $1.09 billion worth of assets Bitzlato managed at the time were linked to criminal activities. &#8220;<em>Most suspect transactions are linked to entities sanctioned by the Office of Foreign Assets Control (OFAC), with others linked to cyber scams, money laundering, ransomware, and child abuse material&#8221;<\/em> Europol said. FTX founder Sam Bankman-Fried visited the MDC as well before to his fraud trial. On all seven fraud accusations, he was found guilty and sentenced 25 years in jail.<\/span><\/p>\n<p><i><span style=\"font-weight: 400\">You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our <\/span><\/i><a href=\"https:\/\/t.me\/coinengineernews\"><i><span style=\"font-weight: 400\">Telegram, <\/span><\/i><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\"><i><span style=\"font-weight: 400\">YouTube<\/span><\/i><\/a><i><span style=\"font-weight: 400\">, and <\/span><\/i><a href=\"https:\/\/twitter.com\/coinengineers\"><i><span style=\"font-weight: 400\">Twitter<\/span><\/i><\/a><i><span style=\"font-weight: 400\"> channels for the latest <\/span><\/i><a href=\"https:\/\/coinengineer.net\/blog\/news\/\"><i><span style=\"font-weight: 400\">news<\/span><\/i><\/a><i><span style=\"font-weight: 400\"> and updates.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Anatoly Legkodymov, founder of defunct crypto exchange Bitzlato, spared further jail time after serving 18 months for processing $700M in illicit proceeds. Having handled over $700 million in illicit Russian dark-web income, Anatoly Legkodymov, the developer of the insolvent bitcoin exchange Bitzlato, has been spared further jail time. Judge Eric Vitaliano sentenced Legkodymov to time<\/p>\n","protected":false},"author":6,"featured_media":25420,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,1,2],"tags":[7490,7489],"class_list":["post-25416","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-genel","category-news","tag-anatoly-legkodymov","tag-bitzlato"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitzlato Founder Spared Further Jail Time After Processing $700M in Illicit Proceeds - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/bitzlato-founder-spared-further-jail-time-after-processing-700m-in-illicit-proceeds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitzlato Founder Spared Further Jail Time After Processing $700M in Illicit Proceeds - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Anatoly Legkodymov, founder of defunct crypto exchange Bitzlato, spared further jail time after serving 18 months for processing $700M in illicit proceeds. Having handled over $700 million in illicit Russian dark-web income, Anatoly Legkodymov, the developer of the insolvent bitcoin exchange Bitzlato, has been spared further jail time. 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