Co-founder of Tornado Cash Released on Bail Amid Money-Laundering Charges
Summary:
Roman Storm, co-founder of Tornado Cash, has been released on bail after being arrested on charges of money-laundering. Storm's lawyer expressed concerns about the implications for software developers. The arrest is part of an ongoing case involving the operation of Tornado Cash and alleged money laundering of over $1 billion. This comes after the US Treasury Department added Tornado Cash-related addresses to its watchlist. Another developer was previously arrested in the Netherlands, while another remains at large.
Co-founder of cryptocurrency mixing service Tornado Cash, Roman Storm, has been released on bail after being arrested on charges of money-laundering and other offenses by the United States Department of Justice (DOJ). Storm's lawyer, Brian Klein, announced his release on social media and expressed disappointment with the prosecutors' decision to charge him based on his involvement in software development, stating that it sets a dangerous precedent for all software developers. The DOJ arrested Storm and fellow founder Roman Semenov on August 23, charging them with operating the Tornado Cash service and allegedly laundering over $1 billion in criminal proceeds. Storm's lawyer has not yet responded to a request for comment. This development comes after the US Treasury Department added Tornado Cash-related addresses to its list of Specially Designated Nationals in 2022, leading to the arrest of another developer in the Netherlands. Furthermore, co-founder Roman Semenov has also been added to the list, while remaining at large.
Published At
8/25/2023 10:17:47 AM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.