Samourai Wallet Founders Reverse Course, Will Plead Guilty in Crypto Case
Main Idea
The founders of Samourai Wallet, a Bitcoin mixing platform, will plead guilty to charges related to facilitating illegal transactions, including ties to Silk Road, and earning $4.5M in fees.
Key Points
1. Samourai Wallet founders Keonne Rodriguez and William Lonergan Hill will change their pleas to guilty in a case involving illegal transactions.
2. Prosecutors allege Samourai processed over $2B in unlawful transactions, including payments linked to Silk Road, and marketed mixing services to criminals.
3. The wallet's mixing tools, Whirlpool and Ricochet, were designed to obscure transaction trails, drawing scrutiny from US authorities.
4. Rodriguez and Hill were arrested in 2024, and the charges carry a maximum combined prison sentence of 25 years.
5. The defense attempted to dismiss the case, citing a DOJ memo on crypto mixers and alignment with 2019 FinCEN guidance, but was unsuccessful.
Description
The founders of Bitcoin mixing platform Samourai Wallet will plead guilty in a landmark criminal case that has shaken privacy advocates and sent a chill through the crypto community. Court documents filed Tuesday in the Southern District of New York show that CEO Keonne Rodriguez and chief technology officer William Lonergan Hill will change their pleas during a Wednesday morning hearing before Judge Denise Cote. The pair had earlier pleaded not guilty in April 2024 to charges of running an unli...
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