Binance was final destination for millions in funds from Bitzlato, exchange shut down for alleged money laundering
Summary
CNBC reviewed transaction data for the ten largest recipients of Bitzlato outflows, which collected over $45 million in Bitzlato-originated funds. The on-chain data cant account for any additional funds that moved to Binance from Bitzlato through mixers, services that allow users to obfuscate the origin and endpoint of their crypto. Earlier this week, Binance announced it had seized millions of dollars worth of crypto connected to a North Korean hacking group called Harmony. Still, Reuters reported in December that federal prosecutors were mulling bringing charges in a "long-running" criminal investigation regarding Binance and Zhaos compliance with AML laws. "Whether you break our laws from China or Europe or abuse our financial system from a tropical island—you can expect to answer for your crimes inside a United States courtroom."
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