Tornado Cash Founder Released on Bail After Money Laundering Charge
One of the founders of crypto mixer Tornado Cash, Roman Storm, has been released on bail after being charged with laundering $1 billion by the U.S. Department of Justice (DOJ). Defense attorney Brian Klein confirmed Storm’s release.
Key Points:
– Roman Storm, the founder of Tornado Cash, has been released on bail after being charged with money laundering.
– Defense attorney Brian Klein states that Storm is being charged for developing Tornado Cash, rather than for laundering money himself.
– The DOJ alleges that Storm and co-founder Roman Semenov were involved in a $1 billion money laundering scheme in collaboration with a North Korean hacking group.
– Attorney General Merrick Garland warns that cryptocurrency cannot be used to conceal crimes, and the DOJ will hold individuals accountable.
– Tornado Cash was previously sanctioned by the US for national security reasons.
Hot Take:
The release of Roman Storm on bail highlights the far-reaching implications of the case against him. The charges against Storm for developing Tornado Cash could have consequences for all software developers. This case serves as a warning that cryptocurrency cannot be used to hide illegal activities, as the DOJ will hold individuals accountable for their crimes.
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