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WhiteBIT Marks Major Milestone with U.S. Expansion and Times Square Debut

WhiteBIT Marks Major Milestone with U.S. Expansion and Times Square Debut

New York, NY — December 1, 2025 — WhiteBIT, recognized as Europe’s largest cryptocurrency exchange by traffic, has officially entered the United States market with the launch of WhiteBIT US, an independently operated entity tailored for the country’s regulatory and institutional landscape. The move represents a significant step in the company’s global expansion strategy and its commitment to building compliant, secure digital asset infrastructure across key international markets.

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S&P Adds WhiteBIT’s Native Coin to Five Key Cryptocurrency Indices

S&P Adds WhiteBIT’s Native Coin to Five Key Cryptocurrency Indices

WhiteBIT's native coin (WBT) has been officially included in the S&P Cryptocurrency Broad Digital Market (BDM) Index, marking a significant milestone for both WhiteBIT and the broader fintech landscape of Central and Eastern Europe. The S&P BDM Index — curated by S&P Dow Jones Indices — tracks the performance of leading digital assets that meet strict institutional criteria, including liquidity, market capitalization, governance, transparency, and risk controls.

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Risk and Compliance 2025 Exchange: Diligent’s Jason Venner on moving beyond manual cyber compliance

The Pentagon is taking a major step forward in modernizing how it addresses cybersecurity risks.

Defense Department officials have emphasized the need to move beyond “legacy shortcomings” to deliver technology to warfighters more rapidly. In September, DoD announced a new cybersecurity risk management construct to address those challenges.

“The previous Risk Management Framework was overly reliant on static checklists and manual processes that failed to account for operational needs and cyber survivability requirements,” DoD wrote at the time. “These limitations left defense systems vulnerable to sophisticated adversaries and slowed the delivery of secure capabilities to the field.”

Weeding through legacy manual processes

The legacy of manual processes has built up over decades. Jason Venner, a solutions sales director at Diligent, said agencies have traditionally relied on people and paperwork to ensure compliance.

“It’s no one’s fault,” Venner said during Federal News Network’s Risk & Compliance Exchange 2025. “It just sort of evolved that way, and now it’s time to stop and reassess where we’re at. I think the administration is doing a pretty good job in looking at all the different regs that they’re promulgating and revising them.”

Venner said IT leaders are interested in ways to help streamline the governance, risk and compliance process while ensuring security.

“Software should help make my life easier,” he said. “If I’m a CIO or a CISO, it should help my make my life easier, and not just for doing security scans or vulnerability scans, but actually doing IT governance, risk and compliance.”

Katie Arrington, who is performing the duties of the DoD chief information officer, has talked about the need to “blow up” the current RMF. The department moved to the framework in 2018 when it transitioned away from the DoD Information Assurance Certification and Accreditation Process (DIACAP).

“I remember when we were going from DIACAP to RMF, I wanted to pull my hair out,” Arrington said earlier this year. “It’s still paper. Who reads it? What we do is a program protection plan. We write it, we put it inside the program. We say, ‘This is what we’ll be looking to protect the program.’ We put it in a file, and we don’t look at it for three years. We have to get away from paperwork. We have to get away from the way we’ve done business to the way we need to do business, and it’s going to be painful, and there are going to be a lot of things that we do, and mistakes will be made. I really hope that industry doesn’t do what industry tends to do, [which] is want to sue the federal government instead of working with us to fix the problems. I would really love that.”

Arrington launched the Software Fast Track initiative to once again tackle the challenge of quickly adopting secure software.

Evolving risk management through better automation, analytics

DoD’s new risk management construct includes a five-phase lifecycle and then core principles, including automation, continuous monitoring and DevSecOps.

Arrington talked about the future vision for cyber risk management within DoD earlier this year.

“I’m going to ask you, if you’re a software provider, to provide me your software bill of materials in both your sandbox and production, along with a third-party SBOM. You’re going to populate those artifacts into our Enterprise Mission Assurance Support Service,” she said. “I will have AI tools on the back end to review the data instead of waiting for a human and if all of it passes the right requirements, provisional authority to operate.”

Venner said the use of automation and AI rest on a foundation of data analytics. He argued the successful use of AI for risk management will require purpose-built models.

“Can you identify, suggest, benchmark things for me and then identify controls to mitigate these risks, and then let me know what data I need to monitor to ensure those controls are working. That’s where AI can really accelerate the conversation,” Venner said.

Discover more articles and videos now on our Risk & Compliance Exchange 2025 event page.

The post Risk and Compliance 2025 Exchange: Diligent’s Jason Venner on moving beyond manual cyber compliance first appeared on Federal News Network.

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Turkmenistan To Open Doors To Crypto Operations In 2026

Digital asset adoption continues to grow after Turkmenistan announced plans to legally accommodate cryptocurrency operations from 2026. Following this move, the Central Asian nation joins the expanding list of countries opting for regulation in the crypto industry against an outright ban.

Turkmenistan Explores Crypto Amid Economy Diversification 

On Friday, Reuters reported that President Serdar Berdymukhamedov of Turkmenistan signed a new law that will permit registration of crypto exchanges and crypto mining companies from January 1, 2026. 

Notably, this development appears to represent part of the state government’s recent efforts to diversify its economy beyond gas exports, following Turkmenistan’s status as the nation with fourth fourth-largest gas reserves. Reuters also confirmed the government’s motive behind its new regulation, stating an intent to drive investment and speed up digitalization. 

While there are no official data on the level of crypto ownership in Turkmenistan, citizens’ ability to purchase digital assets using credit/debit cards, as well as the existence of Bitcoin ATMs, indicate significant traction requiring legalization. In particular, local Kyrgyzstan media states the new regulations signed by President Berdymukhamedov assert the legal status of cryptocurrencies as civil assets but with no economic power to serve as currency or means of payment. 

Furthermore, all licensed crypto exchanges are mandated to ensure the protection of users’ data and deposits. Meanwhile, mining operations can be performed by both individuals and local businesses following approval and registration with the recognized state authority. Other aspects of Turkmenistan’s crypto regime cover specific definitions of terms, and operations center around offering, transfer, issuance, and storage.

Crypto Adoption Surges In Central Asia

Beyond Turkmenistan, other nations in Central Asia, including Kazakhstan and Uzbekistan, are also ramping up crypto regulatory efforts to create an enabling environment for digital assets adoption. Notably, Uzbekistan has completed legal preparations to formally adopt stablecoins for payments in 2026, while also permitting the trading of tokenized stocks on licensed exchanges. 

Meanwhile, Bitcoinist reported that Kazakhstan has recently allocated $500 million – $1 billion for a national reserve fund with a potential launch slated for 2026. In addition, the former soviet state also introduced a national stablecoin, KZTx, in collaboration with the world’s biggest exchange, Binance. 

Taken together, these crypto-friendly moves show that Central Asian nations are doubling down on blockchain and digital assets as an emerging pillar of the global financial sector. 

According to data from CoinMarketCap, the total crypto market cap is now valued at $3.05 trillion following a modest rebound in the last week after an extended correction that began in early October. 

Turkmenistan

WhiteBIT Launches New Partner Program to Drive Institutional Crypto Adoption

WhiteBIT Launches New Partner Program to Drive Institutional Crypto Adoption

WhiteBIT, the leading European crypto currency exchange by traffic, has officially launched its Partner Program, a B2B initiative designed to help businesses integrate crypto services, expand their offerings, and unlock new revenue streams. The program provides access to WhiteBIT’s professional-grade solutions, including Market Making Program, Crypto-as-a-Service, and Listing services, delivering a seamless path to crypto adoption for partners and their clients.

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2026 Open Season Exchange: BCBS’s David Yoder on evaluating costs, benefits

Insurance costs are rising sharply once again for 2026 — and that is certainly an important factor for enrollees in the Federal Employees Health Benefits program to consider when making any changes during this fall’s Open Season.

But David Yoder, senior vice president of BlueCross BlueShield’s Federal Employee Program, said looking at health insurance premiums alone, and not seeing the bigger cost picture, could put FEHB participants at a disadvantage when deciding on a health plan.

“A low premium may look good on paper, but then you may have much higher out-of-pocket costs that you have to incur,” Yoder said during Federal News Network’s 2026 Open Season Exchange.

Estimate your true out-of-pocket health costs

Out-of-pocket costs can come from a number of health care needs — such as doctor’s office visits, co-pays for prescription drugs, emergency room visits or telemedicine appointments. And those are all health care options that many enrollees may use on a frequent basis.

“By the time you incur all those costs, plus the premium, you may have been able to go into a different product that may have had a slightly higher premium, but a little bit lower out-of-pocket cost,” Yoder explained.

At the same time, since BCBS is a nonprofit, Yoder noted that the carrier has a slightly different method for calculating costs — something may be especially important to consider in a year where participants are facing another major spike in health premiums.

But according to Yoder, 95 cents of every dollar from BCBS enrollees goes back toward paying for medical costs.

“We try to be very judicious about how we set those rates because we want to make sure we have affordable products,” Yoder said. “We want to make sure that our members are able to access the products we have.”

Looking beyond health care costs

Going beyond cost, Yoder encouraged participants to weigh other key factors when deciding on their health care options — most notably, by comparing provider networks, as well as looking at the drug benefits that are included in various plan options.

“You want to make sure that you understand, if you’re taking a product, that your product is covered,” Yoder said. “There may be alternatives that are covered that may be just as efficacious for you … And they may be covered at a lower cost share overall.”

Despite a year of major uncertainty for federal employees, Yoder said he hopes that health care can remain an area where federal insurance enrollees will feel steadier and will have one less thing to have to worry about.

“In the midst of all these changes, the one thing that they really need and depend on is their health care. That’s the one constant they may have,” Yoder said. “We continue to provide those services no matter what happens moving forward. We try to make sure members are reassured that we’re going to be here for them.”

BlueCross BlueShield offers various health plan options in the federal insurance space. The choices range from coverage for those with minimal health needs, to those seeking broader benefits or better provider flexibility.

“It is our mission to be able to bring the best benefits we possibly can to federal employees, and to make sure that they can get the coverage they need at an affordable price point,” Yoder said. “We offer multiple price point benefits. We’ve really got something for everybody.”

BCBS additionally offers tools and resources to its members, so they can better understand and track changes to their health care costs year to year, as well as consider the key differences between various plan options and what may be most pragmatic for each individual employee.

Discover more articles and videos now on our 2026 Open Season Exchange event page.

The post 2026 Open Season Exchange: BCBS’s David Yoder on evaluating costs, benefits first appeared on Federal News Network.

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2026 Open Season Exchange BCBS's David Yoder

2026 Open Season Exchange: G.E.H.A’s Raj Vavilala on the value of stability — particularly this year

Amid a lot of change and uncertainty for the federal workforce this year, taking advantage of this fall’s Open Season may be especially important for participants in the government’s health insurance programs.

Raj Vavilala, chief sales, marketing and product officer for G.E.H.A, the Government Employees Health Association, said he has been hearing frequently from federal employees this year about the need for reassurance — and strong continuity of care — within the Federal Employees Health Benefits (FEHB) program.

“When there’s a lot of change, we pride ourselves in being that trusted advisor, aspire to that status wherein we can actually share what all of this change means to a specific member or their family,” Vavilala said during Federal News Network’s 2026 Open Season Exchange. “Because health care, even though it’s a broad term, it’s very personalized to everybody’s specific needs.”

Individualized health care plans

Vavilala said health care shouldn’t be one-size-fits-all. He noted that G.E.H.A offers a range of both health and dental options for enrollees, depending on their individual situation. That may be critical in a year that has been particularly challenging for the federal workforce.

Generally, the plan choices from G.E.H.A range from those with low premiums, to those with maximum coverage. For Vavilala, the end goal is to find the right fit for each federal employee as they navigate changes to both their careers and their health over time.

“The most important thing for every federal employee right now … is to engage in their health care,” he said. “This is the year of all years to actually take a look at what’s happening underneath the surface of your health care.”

Adjusting health care across your federal career

As any federal employee continues through, and beyond, their career in government, it’s practically inevitable that health care needs will change over time — and that means coverage needs will change over time as well.

Younger federal employees with few health needs or any federal employee that’s looking to save money with a health savings account for health needs in the future, for instance, may find value in a high-deductible health plan, Vavilala explained.

Whereas standard or high plan options may be better suited at later points in a federal employee’s career or for those looking for deeper benefits. There are also Medicare Advantage options, which may appeal more to federal retirees.

But on top of the various options, Vavilala said enrollees can access added benefits from G.E.H.A, in addition to those outlined by the respective federal program. These include  vision, fitness and hearing aid discounts — as well as telehealth options. Ultimately, he said the goal is to help enrollees navigate various situations and find the right benefits for them, including through managing any unpredictable changes that may come.

“We care for the health and well-being of our members more than anything else, and that sets a clear guide path on what matters to us, in terms of the decisions we make — whether it’s a product, whether it’s how we talk to members, how we educate them,” Vavilala said. “That’s really our secret sauce.”

Don’t be afraid to ask for Open Season help

And when seeking out different options during Open Season, participants aren’t alone in their search. Vavilala said G.E.H.A offers various ways for enrollees to get answers to their questions. That includes through digital comparison tools, as well as a customer service phone line.

There are also plan brochures available from each FEHB carrier and detailed information on the Office of Personnel Management’s website.

“You’ll have an opportunity to look at the brochure. You’ll have an opportunity to look at the material that all carriers provide to you,” Vavilala said. “But there is really no substitute for a conversation. Have a conversation with us — ask the questions and demand good answers. It’s our responsibility to help, to provide detailed information.”

G.E.H.A, the Government Employees Health Association, is a nonprofit member association that provides health and dental benefits that millions of federal employees and retirees, military retirees and their families have counted on since 1937.

“It’s an amazing honor to be part of this space serving federal employees and their families,” Vavilala said. “Every time we have a conversation with a federal employee, we realize this is not a job — this is a calling and a mission.”

Discover more articles and videos now on our 2026 Open Season Exchange event page.

The post 2026 Open Season Exchange: G.E.H.A’s Raj Vavilala on the value of stability — particularly this year first appeared on Federal News Network.

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2026 Open Season Exchange G.E.H.A.'s Raj Vavilala

2026 Open Season Exchange: MetLife’s Missy Plohr-Memming on prioritizing holistic health

As the federal workforce continues to evolve, the government’s employee benefits landscape is simultaneously adapting to the changing needs and expectations of this diverse workforce.

For health carriers, adapting to the evolving federal workforce means reevaluating and refining the benefits offered through government insurance programs to better align with their changing needs.

“A lot of long-time federal employees are retiring or leaving and being replaced by younger people, so what is important today is different than what was important 20 years ago,” Missy Plohr-Memming, MetLife’s senior vice president for U.S. Group Benefits, said during Federal News Network’s 2026 Open Season Exchange. “So when we think about the program benefits for 2026, we think about flexibility and expanding that program.”

Delivering benefits through FEDVIP and more

MetLife Federal Benefits offers a range of coverage options within the government’s marketplace, including comprehensive dental and vision coverage as part of the Federal Employee Dental and Vision Insurance Program (FEDVIP), as well as various supplemental health benefits separate from the program. In total, MetLife offers benefits to about 50,000 employers, spanning roughly 40 million employees and their dependents.

“We have the privilege of caring for those folks every day, and we take that privilege quite seriously,” Plohr-Memming said.

Part of MetLife’s current focus, she said, is to look at what is most important to federal employees in the current moment, especially as it pertains to a more holistic approach to health and wellness.

“Certainly, people need medical benefits. … But then there are all the other ancillary benefits. Think of that as dental and vision, of course, but it’s also things like legal insurance and pet insurance,” Plohr-Memming said. “And then you bring in those elements of financial health and mental health, and you can really craft a bespoke set of benefits for your unique circumstances, from the offerings available through the Office of Personnel Management and as a federal employee and a member of the federal family.”

Expanding benefits to meet changing needs

There are some specific ways that MetLife is changing its options to meet the evolving needs of federal employees. Some of those key changes are focused on expanding options for dental benefits.

“We worked to craft some plan design changes that make sense in the context of the modern workforce, including offering three cleanings for people who are pregnant or have diabetes,” Plohr-Memming said.

But the changes for MetLife go beyond updates to the benefits themselves, she said. For instance, dental and vision enrollees can also access identity and fraud protection from the health carrier — at no additional cost.

“We’re also thinking about things like the network: How do we make sure we have the most expansive network, both for dental and vision?” Plohr-Memming said. “We want to meet people where they are in their time of need, and in the place that they believe they can get the best care.”

Taking advantage of Open Season

An annual study conducted by MetLife, the Employee Benefit Trends Study, found that 35% of federal employees feel “holistically healthy.” That’s lower than the 39% of U.S. employees overall who say the same. And within the federal workforce, 27% of federal managers say they feel “holistically healthy,” compared with 40% of nonmanagers in government who say the same.

Part of the reason for that divide may stem from an incomplete understanding of the benefits and coverage that federal employees can access, according to MetLife’s analysis of the study’s findings.

Open Season is the best time for participants to conduct research and learn more about the options that are out there, Plohr-Memming said.

She recommended three specific steps federal employees should take before the enrollment window closes Dec. 10:

  • First, really take time to consider the different options at participants’ disposal.
  • Second, focus on family circumstances and what may be necessary there.
  • Third, look “holistically” at the options — and beyond just the premium cost.

“What’s really important is, what does that premium get you?” Plohr-Memming said. “When you estimate your out-of-pocket expenses plus the premium that comes out of your paycheck, you can get the true cost or the true value of the program.”

She recommended visiting carriers’ benefits websites and checking pricing — say, for example, the cost of a root canal or having a cavity filled and comparing pricing. People should look at their possible needs over the coming year, Plohr-Memming said.

“Our philosophy is always focused on you building a more confident future. That philosophy guides everything we do, from the capabilities we establish to the plan designs we work with employers on and actually how we execute and deliver service.”

Discover more articles and videos now on our 2026 Open Season Exchange event page.

The post 2026 Open Season Exchange: MetLife’s Missy Plohr-Memming on prioritizing holistic health first appeared on Federal News Network.

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2026 Open Season Exchange MetLife

Guide to Listing Tokens on Centralized Exchanges

By: Dr-Hack

There are hundreds of new crypto projects arising as the market is awakening after the long downtrend. The ultimate goal of every young project is to list token on exchange and gain exposure to a wide audience of traders and investors. The most efficient way is to list tokens on centralized exchanges (CEXs), for they provide a reliable and compliant trading environment. This article explains why listing on CEXs is so beneficial for new projects and how to list tokens correctly.

Benefits of CEX listing

Here are the benefits projects get with listing on CEX:

  • High liquidity. After listing, tokens become accessible to a broad audience of traders who start trading them and boost their liquidity. 
  • Greater base of crypto for institutional investors. Listing on a CEX increases tokens' visibility and credibility in the market. New market participants now know about the token and feel confident about its credibility.
  • Possible price growth. With the token becoming visible and tradeable, its trading volume will likely grow. It can potentially increase the price as well.
  • Compliance. Many CEXs fully comply with regulations. Listing tokens means a thorough check of the projects behind them. A listen token means the project was checked and approved by the CEX.
  • CEXs offer advanced trading tools such as margin and futures, which may also boost liquidity. 

Crucial Steps for Listing a Token on CEX

Here are the steps to list your token:

  • Choose an exchange. Evaluate trading volumes of different platforms. Choose those with higher volumes, which means greater liquidity.
  • Prepare documents. See the exchange’s requirements and prepare all the needed documents about your token. That may include token audits, compliance with regulations (AML and KYC), whitepaper, etc.
  • Submit the request for listing your token. Provide all the necessary information to highlight the unique features of your token and value. Be active and engage with the exchange community. Arrange AMA (ask me anything) sessions and communicate your project through social media.
  • Discuss fees and terms. There may be a fixed fee for listing, or you may negotiate this with the exchange directly. 
  • Once you have successfully negotiated the fees and terms, the listing process starts. It includes the token’s smart contract integration into the exchange’s trading platform. 

Once all the technical issues are solved, the exchange will announce your token listing and the pairs it will be traded with. 

Conclusion

Token listings on CEX allow for greater liquidity, exposure, and accessibility of tokens to a wider range of potential investors. Being listed on a CEX can increase a token’s credibility and legitimacy, as well as provide a platform for price discovery.

The post Guide to Listing Tokens on Centralized Exchanges first appeared on Internet Security Blog - Hackology.

Russians Offered Ready-made Crypto Exchange Accounts Amid Restrictions

Russians Offered Ready-made Crypto Exchange Accounts Amid Restrictions

Russian crypto traders have been looking to obtain unrestricted accounts for global exchanges as their access to such platforms is limited. Over the past year, the offering of such accounts on the dark web has increased significantly, cybersecurity experts told the Russian press.

Supply of Crypto Exchange Accounts for Russian Users Doubles in a Year of Sanctions

More and more ready-to-use accounts for cryptocurrency exchanges are being sold to Russian residents. While this is not a new phenomenon — such accounts are often employed by fraudsters and money launderers — the current growth in supply has been attributed to the restrictions imposed by the trading platforms on customers from Russia, as a result of compliance with sanctions over the war in Ukraine.

Russian residents have been buying these accounts despite the dangers, including the risk that whoever created them could maintain access after the sale, the Kommersant reported. But they are inexpensive and offers on darknet markets have doubled since early 2022, Nikolay Chursin from the Positive Technologies information security threat analysis group told the business daily.

According to Peter Mareichev, an analyst at Kaspersky Digital Footprint Intelligence, the number of new ads for ready-made and verified wallets on various exchanges reached 400 in December. Proposals to prepare fake documents for passing know-your-customer procedures also rose, the newspaper revealed in an earlier article last month.

Simple login data, username and password, is typically priced at around $50, Chursin added. And for a fully set up account, including the documents with which it was registered, a buyer would have to pay an average of $300. Dmitry Bogachev from digital threat analysis firm Jet Infosystems explained that the price depends on factors such as the country and date of registration as well as the activity history. Older accounts are more expensive.

Sergey Mendeleev, CEO of defi banking platform Indefibank, pointed out that there are two categories of buyers — Russians that have no other choice as they need an account for everyday work and those who use these accounts for criminal purposes. Igor Sergienko, director of development at cybersecurity services provider RTK-Solar, is convinced that demand is largely due to crypto exchanges blocking Russian accounts or withdrawals to Russian bank cards in recent months.

Major crypto service providers, including leading digital asset exchanges, have complied with financial restrictions introduced by the West in response to Russia’s invasion of Ukraine. Last year, the world’s largest crypto trading platform, Binance, indicated that, while restricting sanctioned individuals and entities, it was not banning all Russians.

However, since the end of 2022, a number of Russian users of Binance have complained about having their accounts blocked without explanation, as reported by Forklog. Many experienced problems for weeks, including suspended withdrawals amid prolonged checks, affected customers said. The company told the crypto news outlet that the blocking of users from Eastern Europe and the Commonwealth of Independent States was related to the case with the seized crypto exchange Bitzlato.

Do you think the restrictions will push more Russians towards buying ready-made accounts for cryptocurrency exchanges? Share your thoughts on the subject in the comments section below.

Bitzlato Exchange Busted as US Deals ‘Blow to Crypto Crime,’ Arrests Owner

Bitzlato Exchange Busted as US Deals ‘Blow to Crypto Crime,’ Arrests Owner

Cryptocurrency exchange Bitzlato, better known to the Russian-speaking segment of the market, has been taken down as part of an “international cryptocurrency enforcement action,” the U.S. Justice Department announced. The Russian owner of the platform has been arrested for his role in the alleged transmission of illicit money. Bitzlato claimed it was hacked.

US, France Hit Cryptocurrency Exchange Bitzlato, Russian Co-founder Detained in Miami

U.S. authorities have apprehended Anatoly Legkodymov, a resident of China, on charges that his Hong Kong-registered crypto trading platform, Bitzlato, processed illicit funds worth hundreds of millions of dollars. The Russian, a co-founder and majority owner of the exchange, was arrested by the FBI in Miami on Tuesday, a high-ranking official from the United States Department of Justice (DOJ) revealed.

Speaking during a press conference, Deputy Attorney General Lisa Monaco said that Justice Department agents and prosecutors, working with the U.S. Treasury Department and French law enforcement, have “disrupted Bitzlato, a China-based cryptocurrency exchange, notorious for laundering criminal proceeds from the darknet” and ransomware attacks. She also stated:

Today, the Department of Justice has dealt a significant blow to the crypto crime ecosystem.

Legkodymov is accused of operating the exchange as a “high-tech financial hub that, in his own words, catered to ‘known crooks’,” Monaco explained. She went on to allege that Bitzlato was a “crucial financial resource” for Hydra, the largest darknet market, with Russian roots, which was shut down in April, last year, by the German police with the support of U.S. agencies.

According to the DOJ, Hydra buyers funded illicit purchases from crypto accounts hosted at Bitzlato while sellers of drugs, stolen financial information and hacking tools sent criminal proceeds to accounts at the exchange, collectively amounting to $700 million in direct and indirect transfers between 2018 and 2022.

The deputy attorney general also said that the participants in the operation have engaged in a “coordinated campaign of disruption.” This included law enforcement actions in a number of European countries and the seizure of Bitzlato’s servers. By midday Wednesday, Bitzlato’s website was replaced by a notice saying that the service had been seized by French authorities, Reuters reported.

Crypto Exchange Bitzlato Claims It Was Hacked, Halts Withdrawals

Also on Wednesday, the operators of Bitzlato announced on Telegram, that the exchange had suffered a hacking attack. They told users that withdrawals had been suspended indefinitely and asked them to refrain from sending coins to the platform until the issue is resolved.

“Our service was hacked, part of the funds was withdrawn from the service,” the exchange said, noting that the attackers were able to steal a small portion of the funds without specifying the amount. It also sought to assure customers in a second message that their assets were not lost, stating:

For all victims, we guarantee a refund.

“As a security measure, we have disabled the service, we ask you not to replenish the wallets of our service until the work is restored,” Bitzlato reiterated, adding that its team was working on the problem. At the time of writing, the platform is still offline.

The hack presumably took place after on Tuesday the exchange announced maintenance scheduled for Thursday, Jan. 19, “aimed at improving the operation of the service and its security.” The notice informed users it will halt transactions between 5 and 9 a.m. Moscow time.

“We strongly recommend that you organize your work activities taking into account the amendments in order to avoid unpleasant situations,” the platform advised customers, informing them that it plans to disable deposits, withdrawals and trading.

Bitzlato launched in 2016 under the name Changebot and later became a cryptocurrency exchange offering peer-to-peer (P2P) trading services. It lists pairs of the Russian ruble with BTC, ETH, USDT, and other digital coins which can be bought and sold with a variety of payment methods.

Online crypto exchangers like Bitzlato are popular in Russia and the former Soviet space but as crypto assets are yet to be fully regulated in the region, they are often targeted by authorities across the Commonwealth of Independent States. A report recently revealed that the Belarusian judiciary has imposed a hefty fine on the operator of one such platform.

Do you expect other similar operations against crypto trading platforms in the near future? Share your thoughts on the subject in the comments section below.

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