Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Samourai Wallet's Keonne Rodriguez pleads not guilty to money laundering, transmitting charges

Samourai Wallet's Keonne Rodriguez pleads not guilty to money laundering, transmitting charges

The BlockThe Block2024/04/29 22:55
By:The Block

Quick Take Samourai Wallet co-founder Keonne Rodriguez pleaded not guilty on Monday to charges related to his mixer service, as the U.S. cracks down on privacy-related technology. Rodriguez was released on a $1 million bond and his next hearing will be on May 14.

A Samourai Wallet co-founder pleaded not guilty on Monday to federal charges relating to his creation of a tool that makes crypto transactions difficult to trace, as U.S. authorities crack down on privacy-focused technology, CoinDesk reported .

Keonne Rodriguez, 35, faces two charges: Conspiracy to commit money laundering and conspiracy to operate an unlicensed money transmitting business. The charges carry a combined maximum prison sentence of 25 years.

Rodriguez and his co-founder William Lonergan Hill were arrested last week , as authorities shuttered Samurai Wallet services. Samourai Wallet allegedly processed more than $2 billion worth of dirty funds between 2015 and 2024, prosecutors said at an arraignment in a Manhattan court. That includes more than $100 million of transactions of dark web marketplaces’ laundered proceeds, they allege.

The arrests form part of a larger crackdown on so-called crypto mixers, or tools that scramble digital token transactions to obfuscate their origins. Last September, Tornado Cash developer Roman Storm pled not guilty to similar mixer-related money laundering charges.

Mixers are designed to thwart cryptocurrency transaction tracking, making them popular among bad actors who need to launder their criminal proceeds.

Rodriguez was released on a $1 million bond, according to CoinDesk. His next hearing will be in Manhattan on May 14.


0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!