On Wednesday, the U.S. Department of Justice (DOJ) announced the arrest of cryptocurrency mixer Samourai co-founders.
The DOJ seized the cryptocurrency service for conducting $2 Billion worth of illegal transactions and money laundering. The mixer Samourai was able to launder $100 million in criminal proceeds. The two founders arrested, known as Keonne Rodriguez, 35, and William Lonergan Hill, 65. Both co-founders are charged with conspiracy to operate an unlicensed money-transmitting business. They are also charged with conspiracy to commit money laundering. In terms of sentencing, the co-founders face a maximum sentence of up to 25 years in prison. Samourai conducted spear-phishing campaigns as well as laundered money from dark-web illegal sites. The spear-phishing campaigns targeted several decentralized finance protocols. The co-founders intentionally created Samourai with the intention of aiding criminals in “large-scale money laundering and sanctions evasion”. The co-founders were able to implement obfuscation methods through the implementation of Whirlpool, a mixing service. This is to aid in covering up the evidence of the transaction. The use of Samourai provided criminals a safe haven to conduct illicit finance activities that provided anonymity.
Read more:
https://thehackernews.com/2024/04/doj-arrests-founders-of-crypto-mixer.html
