The CEO of Bitzlato, which the US Department of Justice launched an investigation, was arrested by the Spanish police.
Police confiscated approximately $19.8 million worth of cryptocurrencies, fiat money and valuables from executives in a money laundering case in which Bitzlato’s CEO and other executives are accused.
Bitzlato CEO Arrested by Spanish Police
The CEO of Bitzlato, which the US Department of Justice launched an investigation for alleged money laundering, was arrested today. Spanish authorities have arrested the CEO, sales executive and marketing director of Hong Kong-based cryptocurrency exchange Bitzlato, Anadolu Agency reported on Feb.
In total, six Russian and Ukrainian nationals involved in the incident were arrested through joint work between French, Portuguese, Cypriot and US law enforcement agencies.
According to Spanish police, the anonymity of the exchange has allowed it to become the platform of choice for criminal organizations seeking to launder money through cryptocurrency. Authorities seized a total of approximately $19.8 million in digital assets, luxury cars, cash, smartphones and other items related to the investigation and blocked more than 100 exchange accounts.