Cryptocurrency Co-Founders Convicted: From Privacy Pioneers to Prisoners
The co-founders of Samourai Wallet are trading their privacy-centric lives for prison cells. Convicted of money laundering, they turned their app into a Bitcoin blender. Now, they’re blending into jail jumpsuits. Who knew cryptocurrency could lead to such a hard crash landing?
Hot Take:
When your privacy-focused cryptocurrency wallet gets busted for money laundering, it’s like finding out your favorite vegan bakery has been secretly serving beef pies. Samourai Wallet: where privacy and criminality are just a hop, skip, and a Ricochet away!
Key Points:
- Samourai Wallet’s co-founders sentenced for operating an unlicensed money transmitting service.
- Their tools, Whirlpool and Ricochet, were designed to obscure Bitcoin transactions.
- Executives promoted the wallet’s illicit use on the dark web.
- The operation handled $237 million in criminal funds, with over $2 billion in total transactions.
- Sentences include prison time, supervised release, fines, and significant forfeitures.
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