Binance allegedly processed $346 million in bitcoin for Hong Kong-based Bitzlato, the crypto exchange shut down by US authorities last week for allegedly being a Russian “money laundering engine.” Binance processed over 20,000 bitcoin over 205,000 transactions for Bitzlato since 2018, according to blockchain data compiled by Chainalysis. According to Reuters, the amount was worth $345.8 million at the time of the transactions. Binance was previously identified as the largest bitcoin handler for the defunct crypto exchange by the US Treasury’s Financial Crimes Enforcement network. Furthermore, $175 million was transferred directly from Bitzlato to Binance, making Binance the largest recipient of funds from Bitzlato, according to Reuters.