Bitzlato founder won’t get more jail over $700M dark web clearing house latest News

 Judge Rules 18 Months in 'Terrible' MDC Prison Sufficient for Bitzlato Founder

• The judge ruled that the 18 months Anatoly Legkodymoc had already spent in Brooklyn's "terrible" MDC prison was sufficient punishment.

Bitzlato Founder Avoids Further Jail Time After $700 Million Dark Web Scandal

• Anatoly Legkodymoc, the founder of the now-defunct crypto exchange Bitzlato, will not face additional jail time despite Bitzlato processing over $700 million in illegal funds from the Russian dark web.

Judge Sentences Legkodymoc to Time Served for Operating Unlicensed Money-Transmitting Business

• On July 18, in a New York District Court, Judge Eric Vitaliano sentenced Legkodymoc to time served after he pled guilty to operating an unlicensed money-transmitting business. The judge considered the 18 months Legkodymoc spent at Brooklyn’s Metropolitan Detention Centre (MDC) more than enough punishment due to the poor conditions of the facility.

Bitzlato Founder Forfeits $23 Million in Seized Crypto Assets

• Legkodymoc agreed to forfeit $23 million in crypto assets seized by French authorities during the international operation that shut down Bitzlato on January 23, 2023.

Bitzlato's $700 Million Dark Web Exchange Exposed in Global Sting Operation

1. Prosecutors claimed Legkodymoc helped exchange over $700 million in cryptocurrency on the Russian dark web black market, Hydra Market and failed to monitor users properly.

 2. They highlighted messages showing Bitzlato users seeking help with illegal transactions and Legkodymoc acknowledging that many users were “known to be crooks.”

Brooklyn MDC is widely recognized as one of the toughest prisons in the United States. Source: WikiCommons

International Operation Arrests Bitzlato Founder Amid Sanctions Violations and Cyber Scams

• Legkodymoc was arrested in Miami on January 17, 2023, as part of a global operation involving the United States, Spain, Portugal, Cyprus, and Europol, which took the exchange offline.
•  Europol reported that 46% of Bitzlato’s assets, valued at $1.09 billion at the time, were tied to illegal activities, including sanctions violations, cyber scams, money laundering, ransomware, and child abuse material.

Legkodymov Source: Siasat

Legkodymoc Expresses Regret and Acknowledges Failures in Preventing Illegal Activities

• In court, Legkodymoc expressed regret for his actions and acknowledged he could have done more to prevent illegal activities on Bitzlato.

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