Bitzlato halts Bitcoin withdrawals amid co-founder’s guilty plea & legal turmoil.
Bitzlato has experienced seizures to partial restoration amid DOJ allegations.
Memeinator’s MMTR Presale has raised over $2.57 million as stage 10 nears its end.

In a surprising turn of events, cryptocurrency exchange Bitzlato has temporarily suspended all Bitcoin withdrawals following its co-founder’s guilty plea and the subsequent decision to dissolve the platform. As legal battles unfold, users find themselves in uncertainty over the fate of their assets.

Meanwhile, in the crypto space, Memeinator is offering a potential alternative investment opportunity with its ongoing MMTR presale, aiming to redefine the meme coin market.

Bitzlato’s turmoil: co-founder’s guilty plea and asset seizures

Bitzlato’s co-founder, Anatoly Legkodymov, recently pled guilty to operating an unlicensed money services business, leading to the dissolution of the exchange. This legal setback stems from Legkodymov’s arrest earlier in the year, orchestrated in a joint operation involving the United States Department of Justice, Treasury Department, and French law enforcement.

The guilty plea includes a significant forfeiture of $23 million worth of cryptocurrency, with a substantial portion of Bitzlato’s infrastructure, including its website, seized. The legal proceedings have put Bitzlato in a challenging position, forcing the platform to temporarily suspend all Bitcoin withdrawals.

Despite the legal challenges, Bitzlato managed a partial restoration of user funds in March. Through a Telegram bot, the platform allowed users to withdraw 50% of their assets initially stuck on the exchange. Over subsequent months, withdrawal limits gradually increased, reaching 70% by November.

The United States Attorney, Breon Peace, did not mince words, accusing Bitzlato of serving as an “open turnstile by criminals.” The Department of Justice (DOJ) further alleged Bitzlato’s role as a financial resource for the Hydra darknet marketplace, facilitating money laundering for users, including funds obtained through ransomware attacks.

The development leaves Bitzlato customers in disarray especially seeing they cannot withdraw their assets from the exchange.

Memeinator’s MMTR presale: alternative investment opportunity

Amidst the turbulence in the cryptocurrency space, Memeinator’s MMTR presale is making waves within the meme coin space, offering investors an alternative avenue. With a mission to dominate the meme coin market, Memeinator promises a unique blend of powerful marketing, innovative product launches, and an exciting action game.

The MMTR token, designed to fuel Memeinator’s ascent, boasts a strategic tokenomics distribution. Investors participating in the presale contribute to phases like presale, marketing, development, liquidity provision, and a competition pool. The roadmap outlines key phases, including setting coordinates, unleashing the Memeinator, search and destroy, and eventual meme domination.

Conclusion

As the cryptocurrency landscape evolves, investors must carefully navigate the uncharted waters, weighing risks and potential rewards.

As Bitzlato grapples with legal troubles and a temporary suspension of Bitcoin withdrawals, users face uncertainties about their assets. On the other hand, Memeinator’s MMTR presale beckons as an intriguing opportunity for those looking beyond the current challenges in the crypto world.

The post Bitzlato freezes Bitcoin withdrawals as Memeinator’s MMTR presale raises $2.57M appeared first on CoinJournal.

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Filed under: Bitcoin - @ December 28, 2023 10:16 am