Bitzlato exchange, a crypto exchange that was shut down in an operation carried out by law enforcement agencies for its alleged connection to money laundering, has restored access to customers’ funds.
According to a Telegram announcement by the exchange, users of the exchange who deposited funds prior to the embargo by the law enforcement agencies can now withdraw their holdings on the platform.
Bitzlato crypto exchange is a Hong Kong-based crypto trading platform, popular among Russian-speaking traders, it ran into trouble with the US and Europe enforcement agencies after the Russian owner was charged with laundering $700 million through the trading platform, an allegation that subsequently led to the exchange being shut down by the US and European authorities.
According to the law enforcement agencies, Bitzlato was believed to have processed more than $700 million in funds from crime-related entities such as the Russian crypto pyramid scheme Finko and the darknet hydra market.
“We were gone for 42 long days, but we are back. A lot of work has been done to ensure that your data is safe and the coins are in your wallets,” Bitzlato said in the post. Adding that it insisted it had been used as “a bargaining chip in backstage games.”
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