Tornado Cash At Center Of $287 Million Laundered In Q3: High-Profile Anomalies Exposed
The ongoing legal saga surrounding Tornado Cash, a cryptocurrency mixing service, has intensified as its co-founders face serious allegations of facilitating money laundering on a massive scale. Roman Storm and Roman Semenov have been charged by the US Department of Justice (DOJ) with running a facility purportedly aiding in the laundering of over $1 billion […]
The ongoing legal saga surrounding Tornado Cash, a cryptocurrency mixing service, has intensified as its co-founders face serious allegations of facilitating money laundering on a massive scale.
Roman Storm and Roman Semenov have been charged by the US Department of Justice (DOJ) with running a facility purportedly aiding in the laundering of over $1 billion in illegal money. This covers earnings from infamous cybercriminals such as Lazarus Group of North Korea.
The DOJ claims that Tornado Cash neglected required rules, including acquiring a money-transmitting license, which casts doubts on the operating validity of the platform. Storm argues that they never plotted to launder money and that Tornado Cash is just software code covered under the First Amendment.
However, the DOJ contends that this argument misrepresents the service’s functionality and its role in facilitating illegal activities.
Tornado Cash: Legal Actions Get Hot
Legal experts are closely observing how the court will view the junction of law and technology as the trial, scheduled for December 2, 2024, gets ready. Storm’s plea to dismiss the charges has already been denied by the judge, who said that matters brought up by his defense should be settled in court instead of through pre-trial motions.
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