BTC-Newswire

US Charges Tornado Cash Co-Founders With Laundering Over $1B

Press Releases Crypto News CryptoDaily UK US Charges Tornado Cash Co-Founders With Laundering Over $1B

Two Tornado Cash co-founders have been charged with conspiracy to commit money laundering and sanctions violations.

On Wednesday, the United States Attorney’s Office announced in a press release the unsealing of an indictment charging Roman Storm and Roman Semenov with conspiracy to commit money laundering, sanctions violations and conspiracy to operate an unlicensed money-transmitting business. The charges against two of Tornado Cash’s co-founders arise from their alleged creation, operation, and promotion of the crypto mixer. According to the press release, Tornado Cash facilitated over $1 billion in money laundering transactions and laundered hundreds of millions from the North Korean cybercrime organization, the Lazarus Group.

Strom and Semenov Knew They Were Aiding Money Laundering

US Attorney Damian Williams said:

“As alleged, Tornado Cash was an infamous cryptocurrency mixer that laundered more than $1 billion in criminal proceeds and violated U.S. sanctions. Roman Storm and Roman Semenov allegedly operated Tornado Cash and knowingly facilitated this money laundering.

While publicly claiming to offer a technically sophisticated privacy service, Storm and Semenov in fact knew that they were helping hackers and fraudsters conceal the fruits of their crimes. Today’s indictment is a reminder that money laundering through cryptocurrency transactions violates the law, and those who engage in such laundering will face prosecution.”

In the announcement, the US Attorney’s Office said Roman Storm was arrested on Wednesday in the State of Washington, but Roman Semenov remains at large.

The Wall Street Journal reports, Tornado’s alleged third co-founder, Alexey Pertsev, was arrested in the Netherlands in August

Go to Source to See Full Article
Author: Jana Serfontein

Did you like this?
Tip BTC Newswire with Cryptocurrency