News - Tornado Cash founder sued

By Ted Maas

Tornado Cash founder sued

Scams, crime and fraud

More than a billion dollars was laundered through the cryptomixer Tornado Cash. The founders have now been charged with money laundering and violating sanctions. Both founders risk prison terms of several years.

As the U.S. Department of Justice announced, Roman Storm and Roman Semenov are accused of laundering "more than a billion US dollars in criminal proceeds' through the cryptomixer. They were accused of 'Conspiracy to launder money and operating an unlicensed money transfer business.' Justice also mentions "hundreds of millions of dollars" which were laundered by the North Korean hacker gang Lazarus through Tornado Cash.

"Roman Storm and Roman Semenov allegedly operated Tornado Cash and knowingly facilitated money laundering," says prosecutor Damian Williams. She "publicly claimed to be a technically advanced privacy protection company, but in reality they knew they were helping hackers and fraudsters hide their crimes".

He said the charge "was a reminder that money laundering through cryptocurrency transactions is against the law, and those who engage in money laundering will be prosecuted". Tornado Cash's founders risk years in prison if convicted. Storm reportedly has already been arrested.

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