Bitzlato Plans to Resume Operating and Allow Partial Withdrawals of User Funds

The co-founder of Hong Kong-based crypto exchange Bitzlato, which had been charged with money laundering and had its servers seized in a major international operation earlier this month, said the company plans to resume operating and allow partial withdrawals of user funds.

Anton Shkurenko, co-founder of Bitzlato, said police had seized the platform's hot wallet, which contained about 35% of user funds in all cryptocurrencies at the time.

But Shkurenko said the exchange would reopen at an unspecified time, and that he could say with "100% certainty" that "we will allow 50% of user funds in bitcoin held in Bitzlato wallets to be withdrawn on the same day we launch. For other cryptocurrencies, the launch will be gradual."