- While the US tightens down on privacy-related technology, Keonne Rodriguez, one of the co-founders of Samourai Wallet, entered a not guilty plea on Monday to accusations pertaining to his mixer service.
- Rodriguez’s next hearing is scheduled on May 14 and he was freed on a $1 million bail.
As U.S. authorities press down on privacy-focused technologies, a co-founder of Samourai Wallet entered a not guilty plea on Monday to federal charges pertaining to his development of a program that makes cryptocurrency transactions harder to trace.
Keonne Rodriguez, 35, is accused of two crimes: conspiracy to launder money and conspiracy to run an illegal money-transfer company. The maximum prison term for all of the charges is 25 years.
As Samurai Wallet services were shut down by the authorities last week, Rodriguez and his co-founder William Lonergan Hill were placed under custody.
According to the prosecution, Samourai Wallet handled almost $2 billion in illicit funds between 2015 and 2024, as stated during the defendant’s arraignment in a Manhattan court. They claim that this involves transactions totaling more than $100 million from dark web marketplaces’ laundered profits.
The arrests are a part of a wider campaign against what are known as “crypto mixers,” which are programs that jumble transactions using digital tokens in order to hide their source. Roman Storm, the creator of Tornado Cash, entered a not guilty plea to comparable money laundering accusations involving mixers last September.
Due to their ability to impede the tracking of cryptocurrency transactions, mixers are favored by criminals who seek to conceal their illicit gains.
Rodriguez was freed on a $1 million bond. On May 14, he will have his next hearing in Manhattan.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
