Crypto giant Binance processed almost $346 million in bitcoin for the Bitzlato digital currency exchange, whose founder was arrested by U.S. authorities last week for allegedly running a 'money laundering engine,' blockchain data seen by Reuters show.
Smartphone with displayed Binance logo and representation of cryptocurrencies are placed on keyboard in this illustration taken, November 8, 2022. REUTERS/Dado Ruvic/IllustrationLONDON, Jan 24 - Crypto giant Binance processed almost $346 million in bitcoin for the Bitzlato digital currency exchange, whose founder was arrested by U.S. authorities last week for allegedly running a "money laundering engine," blockchain data seen by Reuters show.
A Binance spokesperson said via email it had "provided substantial assistance" to international law enforcement to support their investigation of Bitzlato. The company is committed to "working collaboratively" with law enforcement, they added, declining to give details about its dealings with Bitzlato or the nature of its cooperation with such agencies.
Hydra's operator, who was indicted in the United States last year, did not respond to requests to comment. However, one former U.S. banking regulator and one former law enforcement official said Binance's status as one of the top counterparties would focus Justice Department and U.S. Treasury attention on Binance's compliance checks with Bitzlato.
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