Founder of Crypto Platform Bitzlato Pleads Guilty to Unlicensed Money Transmitting

The founder of cryptocurrency exchange Bitzlato pleaded guilty Wednesday to operating a money transmission business that transported and transmitted illicit funds.

U.S. authorities arrested Anatoly Legkodymov, also the company's majority owner, in January. Prosecutors say Bitzlato, which is based in Hong Kong but operates globally, exchanged more than $700 million in cryptocurrency. with Hydra marketa darknet market that was the largest in the world before its closure in April 2022.

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