FinCEN lists Binance among the top Bitcoin counterparties of Bitzlato

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The little-known Bitzlato exchange sent massive amounts of Bitcoin to Binance between May 2018 and September 2022, according to data from FinCEN.

According to the authority, Binance was among the biggest counterparties that received Bitcoin from Bitzlato between May 2018 and September 2022. Other counterparties includedand the alleged Russia-based Ponzi scheme known as “Finiko,” FinCEN noted.

“Approximately two-thirds of Bitzlato’s top receiving and sending counterparties are associated with darknet markets or scams,” FinCEN wrote in the order. The agency noted that between 2019 and 2021, Bitzlato received crypto worth $206 million from darknet markets, $224 million from scams, and $9 million from ransomware attackers.

 

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