Binance, the world's largest crypto exchange, was named as a counterparty in an order against the little-known cryptocurrency exchange, Bitzlato, accused of laundering $700 million by U.S. authorities on Wednesday.
Binance was named as the top three receiving and sending counterparties associated with Bitzlato, according to the order from the Treasury's Financial Crimes Enforcement Network (FinCEN).
"Approximately two-thirds of Bitzlato’s top receiving and sending counterparties are associated with darknet markets or scams. For example, Bitzlato’s top three receiving counterparties, by total amount of BTC received between May 2018 and September 2022 were: (1) Binance, a VASP; (2) the Russia-connected darknet market Hydra; and (3) the alleged Russia-based Ponzi scheme “TheFiniko,” the order said.
During the same period, the top three sending counterparties were Hydra, Local Bitcoins, and TheFiniko, the order added.
(By Amitoj Singh)
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