Bitzlato Set To Resume Operations And Allow Partial Withdrawals Despite Money Laundering Charges

The co-founder of Bitzlato, a Hong Kong-based crypto exchange that faced money laundering charges and had its servers seized in an international operation, has announced that the company plans to resume operations and allow partial withdrawals.

Anton Shkurenko stated in a Russian YouTube interview summarized by Forklog that police had seized the platform's hot wallet, which held 35% of user funds in all cryptocurrencies at the time.

Shkurenko said that Bitzlato will reopen at an undefined time, and added, "we will allow 50% of user funds in Bitcoin (CRYPTO: BTC) held in Bitzlato wallets to be withdrawn on the same day we launch. For other cryptocurrencies, the launch will be gradual."

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Bitzlato was charged with laundering over $700 million in funds tied to criminals in Russia, and the European Union police agency Europol reported that Bitzlato exchanged over $1 billion in assets linked to criminal activities.

The exchange's majority owner and co-founder, Anatoly Legkodymov, (who lives in China) was arrested in Miami, along with several other executives.

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