Samourai Founders Arrested as Privacy Wallet Faces Money Laundering Probe
Privacy wallet provider Samourai has faced significant legal troubles. Its founders, Keonne Rodriguez and William Lonergan Hill, have been arrested in the United States. The company's features, Ricochet and Whirlpool, are under investigation for aiding money laundering. Samourai is accused of operating as an unlicensed 'money transmitter', potentially redefining the term and impacting the wider crypto industry.
The United States lawsuit against Samourai alleges that Rodriguez and Hill facilitated money laundering, knowing their software was used for such activities. The company's servers managed liquidity pools and composed transaction chains, making it an active participant in transaction obfuscation. The lawsuit claims over $100 million was laundered through Samourai's services.
In response, Wasabi Wallet has announced it will block United States citizens and residents due to the lawsuit. Phoenix Wallet, a Lightning Wallet, has removed its app from United States app stores and advised United States users to empty their wallets. The lawsuit challenges the crypto industry's understanding of 'Money Transmitter' regulations, potentially subjecting more wallets to regulations.
The arrest of Samourai's founders and the ongoing investigation into its features highlight the legal complexities surrounding privacy wallets and money laundering. The actions of Wasabi Wallet and Phoenix Wallet suggest a cautious response from the industry. The lawsuit's implications for the broader crypto sector remain to be seen.
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