Cryptocurrency exchange that helped Russians was hacked by hackers

According to representatives of the Bitzlato service, which is accused of helping criminals and darknet sellers, hackers managed to hack and steal some funds from the platform. Users were immediately asked not to fund their accounts, as the funds could end up in the hands of fraudsters. The incident is currently under investigation.

At the time of writing, it is known that users' funds are no longer in danger, but the service has been temporarily suspended for security reasons. Bitzlato representatives promised to return the lost funds to investors in full.

How does Bitzlato work? Bitzlato is an exchange and P2P platform for buying and selling digital assets. The service allows exchanging cryptocurrencies in the app and Telegram bot with zero commission. The platform has been operating since 2015 and supports hundreds of coins. However, the main disadvantage of the project is its ties to Russia — Bitzlato was founded by Russians and is ranked 2nd among the most popular cryptocurrency exchange services in Russia. The No Worries editorial team does not recommend using the services of projects from the aggressor country!

According to Chainalysis, from 2019 to 2021, more than $ 966 million related to illegal or risky transactions were laundered through Bitzlato. This amount is almost half of all cryptocurrencies that have passed through the company over the past 2 years. Chainalysis reported that Bitzlato received $ 206 million from darknet marketplaces and $ 224 million from various types of fraud.