Forbes on Nostr: Privacy-Centric Bitcoin Wallet Founders Held Under Laundering Charges ========== The ...
Privacy-Centric Bitcoin Wallet Founders Held Under Laundering Charges
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The founders of the bitcoin wallet Samourai Wallet, Keonne Rodriguez and William Lonergan Hill, were arrested on April 24. They were charged with conspiracy to commit money laundering and conspiracy to operate unlicensed money-transmitting business offenses. The charges carry a maximum sentence of 25 years. Samourai Wallet is a privacy-focused wallet that enables users to make collaborative and private transactions. The arrests highlight the international nature of the case, with Rodriguez being arrested in the U.S. and Hill in Portugal. The U.S. Attorney's Office of the Southern District of New York alleges that Samourai Wallet facilitated over $2 billion in unlawful transactions and laundered over $100 million in criminal proceeds. The wallet's website and web servers have been seized by authorities. The indictment claims that Samourai Wallet encouraged criminal or sanctioned users to use their product through the X social media platform. The wallet is no longer available on the Google Play store. The case raises legal issues regarding the definition of a money transmitter entity and the future of privacy in the cryptocurrency space. Other privacy-focused wallet operators may be affected by the outcome of this case.
https://www.forbes.com/sites/digital-assets/2024/04/25/privacy-centric-bitcoin-wallet-founders-held-under-laundering-charges/
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The founders of the bitcoin wallet Samourai Wallet, Keonne Rodriguez and William Lonergan Hill, were arrested on April 24. They were charged with conspiracy to commit money laundering and conspiracy to operate unlicensed money-transmitting business offenses. The charges carry a maximum sentence of 25 years. Samourai Wallet is a privacy-focused wallet that enables users to make collaborative and private transactions. The arrests highlight the international nature of the case, with Rodriguez being arrested in the U.S. and Hill in Portugal. The U.S. Attorney's Office of the Southern District of New York alleges that Samourai Wallet facilitated over $2 billion in unlawful transactions and laundered over $100 million in criminal proceeds. The wallet's website and web servers have been seized by authorities. The indictment claims that Samourai Wallet encouraged criminal or sanctioned users to use their product through the X social media platform. The wallet is no longer available on the Google Play store. The case raises legal issues regarding the definition of a money transmitter entity and the future of privacy in the cryptocurrency space. Other privacy-focused wallet operators may be affected by the outcome of this case.
https://www.forbes.com/sites/digital-assets/2024/04/25/privacy-centric-bitcoin-wallet-founders-held-under-laundering-charges/