JUST

2024

Tornado Cash

Tornado

The founders of Samourai Wallet, Keonne Rodriguez and William Lonergan Hill, are in legal jeopardy following <a href="https://www.justice.gov/usao-sdny/pr/founders-and-ceo-cryptocurrency-mixing-service-arrested-and-charged-money-laundering" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">accusations</a> of money laundering. Federal prosecutors claim the pair were intricately involved in operating a crypto mixer, facilitating over $100 million in laundered money originating from dark web activities. This activity was allegedly part of a broader $2 billion worth of illegal transactions processed since 2015.
Rodriguez, 35, and Hill, 65, allegedly earned around $4.5 million in fees from their services. They were arrested on Wednesday; Rodriguez was apprehended in Pennsylvania, while Hill was detained in Portugal, with extradition to the U.S. pending.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 JUST IN: 🇺🇸 US DEPARTMENT OF JUSTICE ARRESTS POPULAR <a href="https://twitter.com/hashtag/BITCOIN?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">#BITCOIN</a>    MIXER SAMOURAI WALLET FOUNDERS AND CEO, CHARGED WITH MONEY LAUNDERING <a href="https://t.co/6LjMa8GkuO" target="_blank" data-wpel-link="external" rel="noopener noreferrer nofollow">pic.twitter.com/6LjMa8GkuO</a>— drager (@Drager4434) <a href="https://twitter.com/Drager4434/status/1783224021942698316?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">April 24, 2024</a>
 </blockquote>
 </div>
</figure>
In conjunction with their arrests, authorities also seized the Samourai Wallet website and issued a warrant for the app on the Google Play Store.
Implications for the Crypto Community
These arrests spotlight the ongoing scrutiny crypto mixing services face from U.S. law enforcement. Using such tools by illicit actors and foreign entities to obscure the origins of fund transfers has drawn significant attention.&nbsp;
Moreover, the crackdown coincides with other high-profile cases, including the impending trial of Roman Storm of Tornado Cash and the recent conviction of Bitcoin Fog’s Roman Sterlingov.
Prosecutors highlighted Rodriguez and Hill’s allegedly courted investors with the promise of catering to dark and grey market participants. According to authorities, this approach demonstrated an explicit intent to support illegal activities through their platform.
As the legal proceedings unfold, the crypto industry watches closely, aware that the outcomes could have far-reaching consequences for privacy-focused financial technologies.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also Read: <a href="https://www.cryptotimes.io/2024/04/25/binance-founder-changpeng-zhao-apologizes-in-letter-to-judge/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Binance Founder Changpeng Zhao Apologizes in Letter to Judge</a>
</blockquote>

Samourai Wallet Founders Face Federal Charges

The Crypto Times

Other articles published on Apr 24, 2024

Anthony Scaramucci's Bitcoin Post Triggers Heated Discussion in Community

Solana Price Forecast As Meme Coins Surge, Will SOL Hit $200 Soon?

Experts Forecast a Bright Path Ahead for Bitcoin’s Value Surge

Crypto Price Prediction 4/24: Meme Coins Lead Market Rally With Double-Digital Gains

Experts Anticipate Declining Prices for AI Services Amidst ICT Sector Trends

U.S. SEC Delays Decision on Grayscale’s Spot Ethereum ETF Application

Join our free newsletter for daily crypto updates!