Binance processed over $340 million in Bitcoin for the Bitzlato digital currency exchange, whose founder was arrested last week for money laundering.
The U.S. Justice Department revealed Bitzlato processed $700 million dollars in illicit funds.
Bitzlato didn’t do proper background checks on clients, when asking for IDs.
Binance is among the top three counterparties by the amount of bitcoin it received between May 2018 and September 2022.
