Binance Suspends Multiple Accounts Linked to Bitzlato Investigation, Over 90% Unblocked

As Cointelegraph reported, several users reported that Binance is suspending multiple accounts on the platform related to the Bitzlato investigation. In this regard, a Binance spokesperson said, “The recent suspension is indeed related to Bitzlato. Last week, Binance’s compliance and investigation team suspended some user accounts in various countries or regions, including Eastern Europe, in response to the Bitzlato case. Most of the suspensions are temporary, and currently, more than 90% of accounts have been unblocked. All funds are safe. Binance has provided relevant law enforcement contact information to affected users (less than 20 people). Binance processed nearly $346 million in funds for seized crypto exchange Bitzlato, Reuters reported. The U.S. Department of Justice had previously arrested Bitzlato co-founder Anatoly Legkodymov on January 19 and charged him with handling $700 million in illicit funds. The U.S. Department of the Treasury’s Financial Crimes Enforcement Network designated Binance as one of the main counterparties in the Bitzlato illicit funds case.