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Tornado Cash Co-Founder Freed on Bail

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Roman Storm – one of the co-founders of the crypto mixer Tornado Cash – is no longer detained, currently being out on bail.

The US authorities arrested the individual earlier this week over allegations that his entity facilitated money laundering operations and was involved with the North Korean hacking collective – the Lazarus Group.

‘Disappointed With the Arrest’

Roman Storm’s attorney – Brian Klein – revealed that his client is out on bail (without disclosing the amount of money posted for the release). He shared his disappointment with the detention, saying Storm aided the advancement of a software. In addition, he believes the US prosecutors’ “novel legal theory” could impact the operations of all software developers.

Pleased to share that my client Roman Storm is already out on bail, although I remain very disappointed that the prosecutors charged him because he helped develop software – their novel legal theory has dangerous implications for all software developers.https://t.co/elmU8VqpYq

— Brian Klein (@brianeklein) August 24, 2023

American law enforcement agents arrested Storm on August 23, accusing him and his associate Roman Semenov (another co-founder of Tornado Cash) of conspiracy to commit money laundering, conspiracy to operate an unauthorized money-transfer business, and conspiracy to violate US sanctions.

Prosecutors also suggested that despite the numerous complaints from hacking victims, the crypto mixer failed to implement know-your-customer (KYC) or anti-money-laundering programs.

Semenov remains at large with agents at the Federal Bureau of Investigation’s New York field office trying to identify his whereabouts. The US Office of Foreign Assets Control (OFAC) recently Go to Source to See Full Article
Author: Dimitar Dzhondzhorov

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