A worldwide crypto exchange platform suspected of laundering criminals’ money has been closed in France.
French and American officers – supported by Europol – targeted suspects in Cyprus, Spain, Portugal and the USA.
The Blizlato site, based in Hong Kong, is suspected of shifting large sums of proceeds from crime and converting it into roubles.
Investigators believe more than half of Blitzlato’s transactions are linked to criminal activity.
More than €1 billion is thought to have been laundered.
The platform, available both in Russian and English language, rented dedicated servers from a hosting company in France.
The co-ordinated action of law enforcement authorities led to the takedown of the platform, seizures of present financial assets, and further technical analysis.
Five people – one in Cyprus, three in Spain, and one in America – have been arrested.
Eight homes were searched.
More than 100 accounts with combined assets of €50 million have been frozen.
Thirteen Europol experts were deployed on the raids after supporting and co-ordinating the operation.
Europol – based in The Hague in the Netherlands – supports the 27 EU Member States in their fight against terrorism, cybercrime, and other serious and organized crime forms.
Europol also works with many non-EU partner states and international organisations.
