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The co-founder of bitzlato has stated that they will allow 50% of the bitcoin user funds held in the bitzlato portfolios to be withdrawn the same day as we launch.
According to the latest development, the defunct crypto exchange bitzlato is in search of a return to the market once again. The crypto change bitzlato based in Hong Kong was accused of money laundering and its servers were seized in a major international transaction earlier this month.
In a recent interview, the co-founder of bitzlato stated that the company plans to return to business and facilitate partial withdrawals of user funds. Forklog has summarized YouTube interview in Russian where Bitzlato co-founder Anton Shkurenko said that police seized the exchange’s hot wallets which contained 35% of user funds in all cryptocurrencies at the time.
Now, shkurenko also said that the exchange would reopen indefinitely. And he said that with "100% certainty" that "we are going to allow 50% of the Bitcoin user funds held in the bitzlato portfolios to be withdrawn the same day we launch. For the rest of the cryptocurrencies, the launch will be incremental."
In mid-January 2023, Bitzlato was accused of laundering more than 700 million dollars' worth of money related to Russian criminals. Recently, co-founder anatoly legkodymov has been arrested in enforcement operations as well as several other bitzlato cadres. Legkodymov is a Russian citizen and majority proprietor of bitzlato living in China. His apprehension, however, was in Miami.
Europol, the European Union police agency, reported that Bitzlato had traded over a billion dollars' worth of assets related to criminal activity.
Binance handled a lot of money for Bitzlato.
According to the most recent market report, BINANCE crypto exchange had handled an astounding $350 million for Bitzlato. According to data compiled by the chainalysis business analytics blockchain, crypto exchange binance had processed over 20,000 bitcoins in over 205,000 transactions for bitzlato since 2018.
In addition, crypto exchange has also been among the largest funder that over 175 million dollars have been transferred from bitzlato to binance. In August 2021, a staggering $90 million was transferred from one scholarship to another.
Binance said they provided "substantial aid" to fincen to support their inquiry further. The Finnish company LOCALBITCOINS also specified that it never had "any form of cooperation or relation" with bitzlato. It is still premature to say that Bitzlato will return very soon.
