Tornado Cash Devs Charged With Helping Hackers Launder $1B, Including Infamous North Korean Attacks

Tornado Cash developers Roman Storm and Roman Semenov have been charged with money laundering and sanctions violations, with Storm already being arrested, as the US Department of Justice alleges that over $1 billion in transactions passed through the privacy mixer, including funds for North Korea's Lazarus Group.

coindesk.com

Relevant topic timeline:

8/23/2023

Two founders behind Russian crypto mixer Tornado Cash charged by US federal courts

The founders of Tornado Cash, a Russian cryptocurrency mixing service, have been charged with conspiracy to commit money laundering, sanctions violations, and operating an unlicensed money transmitting business. The charges stem from the platform's involvement in over $1 billion worth of alleged money laundering transactions, including funds stolen by a North Korean cybercrime organization.

8/25/2023

Crypto collapse: Tornado Cash arrests, Federal Reserve shuts down Farmington Bank, Prime Trust played Terra-Luna

Ethereum mixer Tornado Cash co-founders Roman Storm and Roman Semenov have been charged with money laundering over $1 billion in criminal proceeds, while FTX-affiliated Farmington State Bank has been shut down for attempting to create a stablecoin without proper approval. Prime Trust has filed for bankruptcy after losing $6 million of customer money in Terra-Luna gambling, and Binance has lost its UK payment processor Checkout.com over money laundering concerns. Furthermore, Sam Bankman-Fried plans to blame FTX's lawyers for his decision-making in his legal defense. The SEC has sued Titan for promising unrealistic investment returns, Coinbase has suspended certain stablecoins for Canadian users, and the Centre consortium that issued the USDC stablecoin is being dissolved.

8/26/2023

This Week in Coins: Bitcoin and Ethereum Recover While Pepe Gets Squeezed - Decrypt

The cryptocurrency market remained relatively stable this week, with Bitcoin and Ethereum holding their value, but meme coin PEPE experienced a significant drop in price, and the PepeCoin team's transfer of a large amount of PEPE to exchanges caused panic selling. Additionally, notable news included Kenya's inquiry into OpenAI CEO Sam Altman's Worldcoin project, the arrest of Tornado Cash founder Roman Storm for money laundering-related crimes, and the approval of land and resource tokenization in the Central African Republic.

8/26/2023

Sam Bankman-Fried’s life in jail, Tornado Cash’s turmoil, and a $3B BTC whale: Hodler’s Digest, Aug. 20-26

Tornado Cash co-founders face charges of money laundering and sanctions violations, FTX founder Sam Bankman-Fried struggles in prison, and the identity of a Bitcoin whale holding $3 billion is revealed.

8/27/2023

US Releases Tornado Cash Founder on Bail After $1,000,000,000 Money Laundering Charge - The Daily Hodl

One of the founders of crypto mixer Tornado Cash, Roman Storm, has been released on bail after being charged with money laundering $1 billion, and his case could have implications for all software developers.

8/30/2023

Tornado Cash Indictments May Prove to Be Just a Localized Storm After All

The Tornado Cash indictments against the co-founders and developers behind the decentralized mixer have raised questions about how the federal government will regulate decentralized trading platforms, but the case may be more focused on allegations of money laundering for North Korea rather than a broader attack on privacy tools.

9/6/2023

Tornado Cash Developer Roman Storm Pleads Not Guilty to Money Laundering, Other Charges

Tornado Cash developer Roman Storm pleaded "not guilty" to charges of money laundering and sanctions evasion, and will be released on a $2 million bond under house arrest.

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Posted 8/23/2023, 4:42:00 PM

Tornado Cash Devs Charged With Helping Hackers Launder $1B, Including Infamous North Korean Attacks

coindesk.com

Relevant topic timeline:

8/23/2023

Two founders behind Russian crypto mixer Tornado Cash charged by US federal courts

8/25/2023

Crypto collapse: Tornado Cash arrests, Federal Reserve shuts down Farmington Bank, Prime Trust played Terra-Luna

8/26/2023

This Week in Coins: Bitcoin and Ethereum Recover While Pepe Gets Squeezed - Decrypt

8/26/2023

Sam Bankman-Fried’s life in jail, Tornado Cash’s turmoil, and a $3B BTC whale: Hodler’s Digest, Aug. 20-26

8/27/2023

US Releases Tornado Cash Founder on Bail After $1,000,000,000 Money Laundering Charge - The Daily Hodl

8/30/2023

Tornado Cash Indictments May Prove to Be Just a Localized Storm After All

9/6/2023

Tornado Cash Developer Roman Storm Pleads Not Guilty to Money Laundering, Other Charges

Tornado Cash developer Roman Storm pleaded "not guilty" to charges of money laundering and sanctions evasion, and will be released on a $2 million bond under house arrest.