Release: 2024/04/25 21:54 Reading: 457
US Arrests Samourai Wallet Co-Founders for Money Laundering
The US Department of Justice has apprehended the co-founders of the Samourai Wallet, Keonne Rodriguez (CEO) and William Lonergan Hull (Chief Technology Officer), on charges of money laundering and operating an unlicensed money transfer business. The platform is alleged to have facilitated $2 billion in illegal transactions, including laundering funds on the dark web.
FBI Cyber's Announcement
The FBI, IRS, and partners announced the arrests today, stating that the Samourai Wallet service enabled criminals to launder over $1.7 billion. The FBI Cyber team continues its mission to dismantle fraudulent crypto services.
Specific Charges
The charges allege that Rodriguez and Hull "knowingly facilitated the laundering of over $100 million in criminal proceeds from Silk Road, Hydra Market, and a host of other computer hacking and fraud campaigns."
Cryptocurrency Mixing Service
The prosecution highlights "Whirlpool," a crypto mixing service offered by Samourai. It is alleged that the duo encouraged criminals to launder money on the platform through private messages on X (Twitter).
Arrests and Extradition
Rodriguez was apprehended in the US and will face a Pennsylvanian judge. The US government is seeking the extradition of Hull, who was arrested in Portugal. The Samourai Wallet app has been removed from the Google Play Store.
Crypto Market Reaction
The news of the arrests sparked market volatility, leading to price declines for Bitcoin and altcoins. BTC fell 3.78% to $63,971, while Ether dropped 4.61% to $3,128.
Criticism from Crypto Community
Some in the crypto community have criticized the arrests, suggesting that the developers may face prison sentences for simply writing code.
Previous Money Laundering Charges
The arrests of the Samourai Wallet co-founders follow the charges last year against Tornado Cash founders Roman Storm and Roman Semenov for facilitating money laundering.
We are building the most influential,trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com