ChainCatcher reported that according to Bloomberg, Anatoly Legkodymov, founder of the crypto exchange Bitzlato, was sentenced to 18 months in prison for operating an unlicensed remittance business and laundering more than $700 million in illegal gambling and drug trading proceeds.

Legkodymov will not have to serve any further time in the future, as he has been detained since his arrest in January 2023. In December last year, Legkodymov pleaded guilty, admitting that he knew for years that Bitzlato was being used as a conduit for dark web transactions, including the notorious drug bazaar Hydra Market, which was shut down by authorities in 2022.

Legkodymov, who had lived in Russia and Shenzhen, had moved to Pennsylvania at the time of his arrest. As part of his plea deal, he also agreed to drop his claim for $23 million in cryptocurrency seized by French authorities.