The Zr62Cu22Al10Fe5Dy1 bulk metallic glass (BMG) was subjected to high pressure torsion (HPT) at room temperature. The state after HPT processing demonstrates presence of large number of heterogeneities in amorphous structure – shear bands. Nanoindentation was used to study the effect of HPT processing on deformation behavior and strain rate sensitivity (m). It was found that HPT significantly affects mechanical behavior of BMG during nanoindentation. Decrease in hardness and Young's modulus was observed after HPT. At the same time HPT processing led to an increase in m from 0.014 for the as-cast material to 0.036. The lack of serration flow and shear bands around imprints was observed in addition to above mentioned changes. A much less localized deformation mode under nanoindentation along with an increase in values of strain rate sensitivity of HPT-processed state in comparison with the initial state imply homogeneous deformation behavior after processing. The observed drastic changes in deformation behavior and structure can be explained as the formation of a highly-heterogeneous amorphous structure resembling nanoglasses in result of HPT processing.