Samourai in the slammer π¨ From one mixer to another. The Department of Justice has just charged and arrested both founders of the crypto mixing tool Samourai Wallet with conspiracy to commit money laundering and conspiracy to operate an unlicensed money transmitting business. According to a press release by the US Attorney's Office of the Southern District of New York, Keonne Rodriguez and William Lonergan Hill marketed the software with a specific "focus" on the "black/grey circular economy". The platform is alleged to have facilitated over $100M worth of money laundering transactions from the dark web. Besides that, the press release also claimed that Samourai had cumulatively facilitated over $2B in illegal transactions since 2015. While operating the coin mixing service, prosecutors alleged that the pair had collected over $4.5M in fees across various asset pools. Should the charges stick, both founders may potentially face a maximum total of 25 years in prison. Since the announcement by the Department of Justice, the price of Bitcoin fell slightly by 1.4% from $64,725 to a low of $63,812. Editor's Take: This isn't the prosecution's first move against privacy-focused software, and it definitely won't be the last. Yet, there is hope as there is still a long way to go before the developers of these projects are actually convicted of being guilty. We will have to wait until May 14th to witness the verdict against the developers of Tornado Cash, which will very well decide the fate of all other Coin Mixer operators. |
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