Binance, the world’s largest cryptocurrency exchange, has been named one of Bitzlato Ltd’s top three receiving counterparties by the Financial Crimes Enforcement Network (FinCEN), a bureau of the United States Department of Treasury that combats financial crimes. The US Justice Department has charged Hong Kong-based crypto exchange Bitzlato with laundering US$700 million in crypto assets. Anatoly Legkodymov, the founder of Bitzlato, was arrested on Wednesday, according to the Department of Justice. According to a FinCEN order issued on January 18, Bitzlato’s top three receiving counterparties in terms of total Bitcoin received between May 2018 and September 2022 were Binance, the Russia-connected darknet market Hydra, and the alleged Russia-based Ponzi scheme TheFiniko.