Tornado Cash Founders Charged With Laundering More Than $1 Billion (cnbc.com) 36
Two founders of Tornado Cash, the widely known Russian cryptocurrency mixer, have been charged with laundering more than $1 billion in criminal proceeds. From a report: In a newly unsealed indictment, Roman Storm and Roman Semenov have both been accused of sanctions violations and laundering money through Tornado Cash, including hundreds of millions of dollars for the Lazarus Group, a sanctioned North Korean state-backed hacking group. Charges in the indictment include conspiring to commit money laundering, conspiracy to commit sanctions violations and conspiracy to operate an unlicensed money transmitting business. Storm was arrested Wednesday in Washington state, according to a statement from the Justice Department, but Semenov, a Russian national, remains at large. The third co-founder, Alexey Pertsev, who is not mentioned in this action, faces trial in Amsterdam over his involvement with Tornado Cash. "Roman Storm and Roman Semenov allegedly operated Tornado Cash and knowingly facilitated this money laundering," said U.S. Attorney Damian Williams, adding, "While publicly claiming to offer a technically sophisticated privacy service, Storm and Semenov in fact knew that they were helping hackers and fraudsters conceal the fruits of their crimes." Further reading: Tornado Cash Co-founder Reports Being Kicked Off GitHub as Industry Reacts To Sanctions (2022);
Coinbase Employees and Ethereum Backers Sue US Treasury Over Tornado Cash Sanctions (2022).
Coinbase Employees and Ethereum Backers Sue US Treasury Over Tornado Cash Sanctions (2022).
Russian cryptocurrency mixer (Score:2)
An absolutely legitimate, honorable business, for sure.
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Sell drugs, run guns, nails sluts and fuck the law [youtube.com].
Hey, it's not like the US have a lot of time honored traditions, have some respect.
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Oh please, try to scare us with something anyone still takes seriously. Has there a week gone by that the Kremlin Gremlin didn't try to scare the world with his nukes that are probably in an even worse state of repair than the rest of his army?
Please...
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tl;dr: Russian shill shills.
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I don't care for either side of The USA Party, but frankly, it's hard to believe that anyone outside of Russia would consider the idea that Russia could annex those parts of Ukraine that contain some of the most fertile soil in the world as a trivial matter. Ukraine and Russia pretty much split the market for sunflower oil among them. Ukraine also is one of the biggest producers of wheat, corn and some other produce. Gaining control over that would give Russia an insane leverage on these markets, and you mi
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Stop waving the nuclear dick about. It's about as useless as a real weapon as it can be. You can throw that when you already lost, yes, but even that is a big "if" simply because the people responsible for doing so might not want to go down with you and just tell you to stick your order where the rest of you belongs.
As scary as nukes may appear, when you manage to control your fear for just a moment you notice just how useless as an actual weapon they are.
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Sergei Koroljow was a very good rocket designer and Mikhail Baryshnikov is a world famous dancer and choreographer.
It's not their fault that that's no longer Russia. Come to think of it, pretty much anything remotely useful that came out of Russia didn't come out of what's still Russia...
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Sergei Koroljow was a very good rocket designer and Mikhail Baryshnikov is a world famous dancer and choreographer.
It's not their fault that that's no longer Russia. Come to think of it, pretty much anything remotely useful that came out of Russia didn't come out of what's still Russia...
Yes, because the Soviet Union was such a great place to live.
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The countries that amount to anything left, and what's left is Russia.
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Yes. And many of them are. They're just not the ones in control, and there aren't enough of them willing to fight to change that.
Collectively, Russians are dangerous ignorant brutes, barely civilized. That summary fails horribly at the individual level... I've known quite a few Russians I respected and that I'd still invite to my dinner table if we were still in touch today.
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And the businesses that are allowed to grow and flourish in Russia so sometimes have very dubious backgrounds, far more often than you expect to see in first world countries that have stronger respect for the rule of law. Possibly because setting up a money laundering scheme that targets non-Russians is secretly approved of by the government there. We do know that Putin has set up hacking groups and disinformation groups targeted at the west (no one bleat about fake news and no collusion - Russia did inte
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Can't one of them just be a contrarian and not be a total piece of shit?
They aren't all garbage. Mom's new best friend is Russian. She's pretty chill, so long as you don't fuck something up royally enough to trigger the Russian anger. Haven't seen her do anything I'd even remotely think of as shitty. Well, except for not cleaning up after her dog sometimes. Granted, she's in her seventies and bending down isn't always easy for her, so that one's at least easy to understand.
The whole "hate other entire peoples because that's what I've been told to do" thing really needs to stop.
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Can't one of them just be a contrarian and not be a total piece of shit
You may have noticed that contrarians in Russia tend to fall from high places, ingest deadly toxins, get shot in the head by strangers, fly in jets that crash etc. with alarming regularity.
Believe it or not, there are other places in the world, and in some of them the people aren't as free as you are to act out of their convictions
Money Laundering? (Score:1)
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Easy litmus test.
If it benefits you in any way. It's not money.
If it benefits them in any way, it is obviously money.
Easy peasy. Fits all scenarios cleanly.
You want to make a security to track bitcoin, It's not money.
You get a bunch of it and don't pay taxes, It's definitely money.
You have some and it gets taken, It's not money.
You have some and the bank you placed it in loses it. Not money.
Bank accidentally puts a bunch in your account via error, Definitely money.
Bank goes bust and you lose your ass, Not m
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How can it be money laundering if the items in question are just assets not money?
I'm not sure you understand what money laundering actually is...
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How can it be money laundering if the items in question are just assets not money?
I'm not sure you understand what money laundering actually is...
"While publicly claiming to offer a technically sophisticated privacy service, Storm and Semenov in fact knew that they were helping hackers and fraudsters conceal the fruits of their crimes."
Since plenty of fraudsters walk into banks every day with cash to deposit and use later for legitimate purchases, I'm not sure those accusing others of crimes know why they made money laundering illegal, since they take advantage of it every damn day with banks earning plenty of interest and paying their share of taxes on all those cash deposits under that don't-look-here threshold of mutually agreed corruption, established long ago.
And every employee of that bank, at least if it's in the US, goes through yearly training on identifying potential money laundering and structuring (deposits or transfers of financial assets designed to fly under reporting rules), and the reporting responsibilities of the bank itself and the individual employees. The banks can face substantial fines if they miss it and criminal charges for anyone involved if they intentionally allowed it. And when you go to pay taxes on that "clean" money, you better have a
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How can it be money laundering if the items in question are just assets not money?
I'm not sure you understand what money laundering actually is...
I'm not sure you know what humor is. Try reading the second sentence: "It seems little different than letting people trade magic the gathering trading cards. ;-)"
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No shit Sherlock /s (Score:1)
So sad (Score:1)
Only $1 billion (Score:3)
That number seem small when you compare to Roblox and the amount of gambling and money laundry happening there.