One of the founders of cryptomixer Tornado Cash has been released on bail after being charged with $1 billion in money laundering by the US Department of Justice (DOJ).
According to attorney Brian Klein, Roman Storm, one of the founders of the sanctioned cryptomixer, has been issued on bail.
However, according to Klein, the implications of the plaintiff’s case against his client are far-reaching and could affect all software developers, as Storm is charged with money laundering for helping develop Tornado Cash, rather than money laundering itself.
“I am pleased to report that my client Roman Storm is already out on bail, although I am still deeply disappointed that prosecutors have charged him with helping to develop software – their new legal theory has dangerous implications for all software developers.”
Storm, along with Roman Semenov, another founder of Tornado Cash, was charged earlier this week with conspiracy to aid the North Korean hacking group Lazarus in money laundering, according to a DOJ press release.
As Attorney General Merrick Garland states in the press release:
“As the indictment alleges, the defendants were executing a $1 billion scheme designed to help other criminals launder and conceal money using cryptocurrency, including by laundering hundreds of millions of dollars on behalf of a state-sponsored sponsored North Korean cybercrime group sanctioned by the US government. .
These allegations should serve as yet another warning to those who believe they can turn to cryptocurrency to hide their crimes and conceal their identities, including cryptocurrency mixers: it doesn’t matter how sophisticated your plan is or how many attempts you have done to anonymize yourself, the DOJ holds you accountable for your crimes.
Tornado Cash, an Ethereum-based (ETH) coin mixing system that helps users hide their digital assets, was sanctioned by the US in 2022 for national security purposes.
Don’t miss a single beat – Subscribe to receive email alerts delivered straight to your inbox
Check price action
follow us on TwitterFacebook and Telegram
Surf to the Daily Hodl mix
Featured image: Shutterstock/Liu zishan/Satheesh Sankaran