Europol has reported that the Bitzlato senior management team has been arrested in a French and US operation. Moreover, the press release of the operation stated that more than €18 million in cryptocurrency was seized.
The press release also notes that the operation was orchestrated by French and American authorities as well as being “strongly supported by Europol,” targeting the Bitzlato cryptocurrency exchange. The statement from Europol has divulged those arrested through the process, as well as other outcomes of the operation.
Five Idividiauls Connectd to Bitzlato Arrested
Throughout the last two weeks, the name Bitzlato has been a prominent one in the crypto sphere. The cryptocurrency exchange processed over $700 million in illegal funds before the US Department of Justice intervened, according to CNBC. The money laundering program was the focus of the DOJ, with official charges arriving last week.
Now, it appears as though the Hong Kong-registered cryptocurrency exchange has seen its top brass in the custody of authorities. In a press release published by Europol, it was noted that five individuals have been arrested through the operation.
Moreover, the release notes that law enforcement authorities have taken down the digital infrastructure f the exchange, which was based in France. Subsequently, they have integrated the services of leading members.
Additionally, the press release states that the main administrator of the platform was arrested in the US, with the CEO arrested in Spain. Furthermore, the takedown of the platform’s digital infrastructure coincided with nearly €18 million in cryptocurrencies being seized. More than 100 accounts were also frozen following the operation.