Tornado Cash founders charged with laundering +$1bn

<img width="562" height="339" src="https://www.leaprate.com/wp-content/uploads/2017/01/department-of-justice.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="Tornado Cash founders charged with laundering +$1bn" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2017/01/department-of-justice.jpg 730w, https://www.leaprate.com/wp-content/uploads/2017/01/department-of-justice-230×138.jpg 230w, https://www.leaprate.com/wp-content/uploads/2017/01/department-of-justice-380×228.jpg 380w, https://www.leaprate.com/wp-content/uploads/2017/01/department-of-justice-88×53.jpg 88w, https://www.leaprate.com/wp-content/uploads/2017/01/department-of-justice-150×90.jpg 150w, https://www.leaprate.com/wp-content/uploads/2017/01/department-of-justice-500×301.jpg 500w" sizes="(max-width: 562px) 100vw, 562px" /><p>A statement by the US Justice Department confirmed the arrest of Storm on Wednesday in Washington State. Semenov, a Russian national, remains at large.</p>
<div><img aria-describedby="caption-attachment-450286" decoding="async" class="wp-image-450286" src="https://www.leaprate.com/wp-content/uploads/2023/08/FIN-LP-Tornado-Cash-founders-charged-with-laundering-1bn-5042832551-700×700.jpg" alt="" width="98" height="98" srcset="https://www.leaprate.com/wp-content/uploads/2023/08/FIN-LP-Tornado-Cash-founders-charged-with-laundering-1bn-5042832551-700×700.jpg 700w, https://www.leaprate.com/wp-content/uploads/2023/08/FIN-LP-Tornado-Cash-founders-charged-with-laundering-1bn-5042832551-250×250.jpg 250w, https://www.leaprate.com/wp-content/uploads/2023/08/FIN-LP-Tornado-Cash-founders-charged-with-laundering-1bn-5042832551-150×150.jpg 150w, https://www.leaprate.com/wp-content/uploads/2023/08/FIN-LP-Tornado-Cash-founders-charged-with-laundering-1bn-5042832551-768×768.jpg 768w, https://www.leaprate.com/wp-content/uploads/2023/08/FIN-LP-Tornado-Cash-founders-charged-with-laundering-1bn-5042832551-120×120.jpg 120w, https://www.leaprate.com/wp-content/uploads/2023/08/FIN-LP-Tornado-Cash-founders-charged-with-laundering-1bn-5042832551-245×245.jpg 245w, https://www.leaprate.com/wp-content/uploads/2023/08/FIN-LP-Tornado-Cash-founders-charged-with-laundering-1bn-5042832551-500×500.jpg 500w, https://www.leaprate.com/wp-content/uploads/2023/08/FIN-LP-Tornado-Cash-founders-charged-with-laundering-1bn-5042832551.jpg 800w" sizes="(max-width: 98px) 100vw, 98px" /><p>James Smith Source: LinkedIn</p></div>
<p>In a CBNC interview, the assistant director in charge of the FBI’s New York field office, James Smith, commented:</p>
<blockquote><p>We’re treating this like any other fugitive now. We’re working with law enforcement, outside and inside of our agency, trying to locate and arrest this individual … We will work whatever avenues — whatever we need to do — to arrest, whether it be domestic or international.</p></blockquote>
<p>Some use Tornado Cash as a way to safeguard their privacy in the <a href="https://www.leaprate.com/cryptocurrency/scam/cftc-files-charges-in-a-44-million-crypto-fraud-scheme/" target="_blank" rel="noopener">crypto arena</a>. When using a crypto mixing service, such as Tornado Cash, crypto wallet account particulars and details are protected. However, the Tornado Cash service made headlines in crypto heists, which included the Ronin token theft of $615m and a $100m attack on a US-based startup called Harmony.</p>
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<p>US Attorney, Damian Williams, alleges that Storm and Semenov knew they were aiding hackers and fraudsters while perpetuating their offerings as a technical privacy service. In response, Storm’s lawyer, Brian Klein, stated:</p>
<blockquote>
<div><img aria-describedby="caption-attachment-450287" decoding="async" class="wp-image-450287" src="https://www.leaprate.com/wp-content/uploads/2023/08/FIN-LP-Tornado-Cash-founders-charged-with-laundering-1bn-5042832551-Brian-Klein.jpg" alt="" width="98" height="98" srcset="https://www.leaprate.com/wp-content/uploads/2023/08/FIN-LP-Tornado-Cash-founders-charged-with-laundering-1bn-5042832551-Brian-Klein.jpg 500w, https://www.leaprate.com/wp-content/uploads/2023/08/FIN-LP-Tornado-Cash-founders-charged-with-laundering-1bn-5042832551-Brian-Klein-250×250.jpg 250w, https://www.leaprate.com/wp-content/uploads/2023/08/FIN-LP-Tornado-Cash-founders-charged-with-laundering-1bn-5042832551-Brian-Klein-150×150.jpg 150w, https://www.leaprate.com/wp-content/uploads/2023/08/FIN-LP-Tornado-Cash-founders-charged-with-laundering-1bn-5042832551-Brian-Klein-120×120.jpg 120w, https://www.leaprate.com/wp-content/uploads/2023/08/FIN-LP-Tornado-Cash-founders-charged-with-laundering-1bn-5042832551-Brian-Klein-245×245.jpg 245w" sizes="(max-width: 98px) 100vw, 98px" /><p>Brian Klein Source: LinkedIn</p></div>
<p>We are incredibly disappointed that the prosecutors chose to charge Mr. Storm … and did so based on a novel legal theory with dangerous implications for all software developers.</p></blockquote>
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