Bitcoin price drop coincides with the arrest news, showing the US’s resolve on crypto issues. US officials believe crypto mixers are mostly used by scammers and criminals for money laundering. The latest news involves the arrest of the administrators of a popular mixer.
Crypto Currencies Breaking News
The US government has declared war on crypto mixers, which facilitate fund transfers on behalf of criminals and sanctioned states. This story is primarily based on the North Korean state-linked hacker group Lazarus extensively using mixers to move funds. Now, Federal Prosecutors have arrested Samurai Wallet founders Keonne Rodriguez and William Lonergan Hill on charges of money laundering.
As stated in the press release, criminals “facilitated over $100 million in money laundering transactions from illegal dark web markets” and should be punished for easing the criminals’ work. The clear amount mentioned in the money laundering charges is $2 billion.
At the same time, the founders of the crypto initiative are also guilty of providing unlicensed services. Rodriguez will face a judge within 24 hours. Samourai Wallet’s CTO Hill was arrested in Portugal and the extradition process has begun.
