The founder of the cryptocurrency exchange Bitzlato has been sentenced to 18 months in prison.

ChainCatcher news, according to Bloomberg, Bitzlato founder Anatoly Legkodymov has been sentenced to 18 months in prison for operating an unlicensed money transfer business and laundering over $700 million in illegal gambling and drug trafficking proceeds.

Given that Legkodymov has been detained since his arrest in January 2023, his sentence is now complete, and he will not have to serve any additional time. In December of last year, Legkodymov pleaded guilty, admitting that he had known for years that Bitzlato was used as a channel for darknet transactions, including the notorious drug market Hydra Market, which was shut down by authorities in 2022.

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