New York
CNN
—
US authorities arrested a Russian cryptocurrency executive who allegedly oversaw the exchange of hundreds of millions of dollars with drug traffickers and cybercriminals.
Anatoly Legkodymov, 40, was arrested in Miami, the Justice Department said Wednesday.
The US Treasury Department has labeled his cryptocurrency exchange, Bitzlato Limited, a “primary money laundering concern,” a move designed to cripple the exchange and cut off its financing.
His arrest marks the latest effort by President Joe Biden’s administration to crack down on digital currencies that US officials say have for too long been a safe haven for fraudsters and drug dealers. The illicit activity has caused a “crisis of confidence” in cryptocurrency markets, Deputy Attorney General Lisa Monaco told reporters Wednesday while vowing to continue to hold the sector accountable.
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