S&P 500
7,615.00
-0.10%
Dow Jones
51,324.00
-0.09%
Nasdaq 100
30,646.20
-0.23%
Russell 2000
2,930.98
-0.07%
FTSE 100
10,374.80
-0.13%
Nikkei 225
68,514.20
+1.50%

Investing

DoJ Announces Action Against Bitzlato Crypto Exchange, Arrest of Founder

Photo of 247patrick
By 247patrick Published
DoJ Announces Action Against Bitzlato Crypto Exchange, Arrest of Founder

© fbi / Flickr

On Wednesday, January 18th, the US Department of Justice announced its enforcement action against the Hong Kong-based cryptocurrency Bitzlato.

The announcement also revealed that on January 17th, the FBI arrested Bitzlato’s founder and majority owner Lagadimov—a Russian national.

Bitzlato and its founder are primarily charged with laundering money.

They also stand charged with helping and enabling a Darknet cybercrime network that involved drug trafficking, hacking, and extortion as part of the “Bitzlato-Hydra axis”

US Authorities also seized Bitzlato’s website.

According to the announcement, the action was a part of a large-scale international operation much like the October bust of a crime ring that used digital assets to smuggle oil and steal technology.

This article originally appeared on The Tokenist

Follow 24/7 Wall St. on Google
Photo of 247patrick
About the Author 247patrick →

Continue Reading

Bitcoin Above $22K for the First Time Since Mid-September
247patrick |

Bitcoin Above $22K for the First Time Since Mid-September

Bitcoin and other cryptocurrencies continue their 2023 rally.

US Authorities Arrest and Charge ‘Miles Guo’ for $850M Crypto Fraud
247patrick |

US Authorities Arrest and Charge ‘Miles Guo’ for $850M Crypto Fraud

U.S. authorities arrested and charged Ho Wan Kwok, also known as Miles Guo, for orchestrating a massive fraud.

Douglas A. McIntyre |

National Employee Morale Day At Fedex

Fedex (NYSE: FDX) said it would cut 1,700 people. The announcement was made as part of the air freight company’s…

SEC Settles Charges With Firm Regarding Custody Rule Violations
Chris Lange |

SEC Settles Charges With Firm Regarding Custody Rule Violations

Sands Brothers Asset Management and co-founders Martin Sands and Steven Sands agreed to pay a $1 million penalty and will…

Robinhood to Delist ADA, SOL and MATIC After SEC Classification as ‘Securities’
247patrick |

Robinhood to Delist ADA, SOL and MATIC After SEC Classification as ‘Securities’

Cardano, Polygon and Solana appear to be the latest victims of the U.S. regulatory heat as stock brokerage firm Robinhood…

Douglas A. McIntyre |

Govenment’s Insider Trading Probe Grows

The Wall Street Journal reports that insider trading charge will be brought against managers at Neuberger Berman, and hedge funds Diamondback…

Justin Sun Denies Rumors of His Arrest in Hong Kong
247patrick |

Justin Sun Denies Rumors of His Arrest in Hong Kong

Justin Sun himself appeared in the comment section of the original tweet denying the rumor.

Paul Ausick |

Stephen Cohen Charged with Failing Supervision in Insider Trading Case

ThinkstockStephen A. Cohen, the founder and owner of SAC Capital Advisors LLC, has been charged by the U.S. Securities and…

Regulatory Crackdown on Crypto Exchanges Increases as SEC Charges Bittrex
247patrick |

Regulatory Crackdown on Crypto Exchanges Increases as SEC Charges Bittrex

The SEC has filed a lawsuit against crypto exchange Bittrex and its co-founder for violating securities regulations.

Top Gaining Stocks

Hewlett Packard Enterprise
HPE • Vol: 153,197,465
Enphase Energy
ENPH • Vol: 8,360,053
Corning
GLW • Vol: 18,152,646
Alexandria Real Estate Equities
ARE • Vol: 4,337,015
Aptiv
APTV • Vol: 6,761,325

Top Losing Stocks

Trade Desk
TTD • Vol: 21,905,513
Intuit
INTU • Vol: 7,383,018
Coterra Energy
CTRA • Vol: 73,319,495
Cboe Global Markets
CBOE • Vol: 5,000,011
HP
HPQ • Vol: 29,259,826