Bitzlato users can now partially withdraw their bitcoin funds from the dismantled cryptocurrency exchange, according to a media report. The Russia-linked trading platform was targeted by Western law enforcement and its France-based server infrastructure seized in January.
Bitzlato customers allowed to withdraw up to 50% of their bitcoins from the exchange
Users of Bitzlato’s web portal and app can now withdraw some of the funds they had with the crypto exchange when it was taken down by French and US authorities in mid-January. Since Monday, its customers have access to half of their bitcoin (BTC) sales.
Account holders can withdraw up to 50% of their bitcoins, Bitzlato representatives told Russian newspaper Forklog. The minimum withdrawal amount is 0.001 BTC and the commission is 0.0003 BTCdetail the report.
Withdrawals can be ordered through a Telegram bot and users must provide their Bitzlato account email address, the article explains. After verification, a code needed to complete the transfer is generated and sent to this inbox.
The Hong Kong-registered exchange has been taken down amid allegations that it handled more than $700 million in illicit funds, as the US Department of Justice announced, more than $1 billion , according Europol.
The dirty money was reportedly linked to various criminal activities and actors, including the former biggest darknet market Hydra, which was shut down by Germany in April, and Russia’s biggest crypto-pyramid scheme, Finiko.
Bitzlato co-founder and majority owner Anatoly Legkodymov, a Russian national residing in China, was arrested in Miami. Four other members of Bitzlato’s team were detained in Europe while another co-founder, Anton Shkurenko, was questioned and released in Russia.
In a Youtube interview, Shkurenko had announced his intention to move the exchange to Russia and restart operations from there. He also promised to partially restore withdrawals despite the seizure of the platform’s hot wallet by French law enforcement.
According to a survey of almost 3,300 respondents on Bitzlato’s news channel on Telegram, 30% of users withdraw funds without problems, 3% have experienced short-term asset freezes, money from A further 4% are still stuck, 12% have yet to decide how to opt out, and more than half of respondents intend to wait for the platform’s peer-to-peer market to reopen.
What do you think of the Bitzlato affair? Share them in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
