CryptoQuant CEO Defends Samourai Wallet Founders Amid Money Laundering Charges
Samourai Wallet's founders, Keonne Rodriguez and William Lonergan Hill, are facing serious federal charges for alleged involvement in a money laundering conspiracy, reflecting heightened scrutiny on cryptocurrency tools used for fund mixing.
The Department of Justice’s move has stirred controversy, with critics arguing that the founders shouldn’t be held accountable for users’ actions. However, authorities allege that Rodriguez and Hill designed a mixing service that facilitated over $100 million in money laundering transactions from dark web markets, totaling $2 billion since the wallet’s inception in 2015.
The duo purportedly earned significant fees from their mixing services, offering various features with different pool fees. Charges include conspiracy to commit money laundering and operate an unlicensed money transmitting business, with potential maximum sentences of 20 and five years, respectively.
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According to the Department of Justice, Rodriguez and Hill allegedly encouraged users to launder criminal proceeds through their mixer, supported by evidence from tweets and private messages. The app reportedly gained over 100,000 downloads.
Amid the allegations, CryptoQuant CEO Ki Young Ju has defended Samourai Wallet and its founders. He argued that crypto mixing enhances privacy and isn’t inherently illegal, comparing the case to punishing the inventor of a knife instead of its user.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
