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Bitzlato crypto boss, Anatoly Legkodymov, a Russian national living in China, was arrested by US authorities in Miami for alleged money laundering.
Legkodymov is accused of transmitting $700 million in illicit funds through the Hong Kong-based exchange, which marketed itself as requiring minimal identification from users.
The Department of Justice claims criminals used Bitzlato as a haven for narcotics trading and selling stolen financial information.
Bitzlato's largest partner for transactions was Hydra, an anonymous, illicit online marketplace on the "darknet."
Legkodymov allegedly used Bitzlato's internal chat system to write to a colleague in May 2019 that users were "known to be crooks" using others' identity documents to register accounts.
