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Co-Founders of Tornado Cash Cryptocurrency Mixer Face Charges and Sanctions

Money LaunderingCo-Founders of Tornado Cash Cryptocurrency Mixer Face Charges and Sanctions

The United States Treasury’s Office of Foreign Assets Control (OFAC) has added Roman Semenov, one of the co-founders of the cryptocurrency mixer Tornado Cash, to its list of Specially Designated Nationals and Blocked Persons (SDN) on August 23. Meanwhile, another co-founder, Roman Storm, was arrested by the Federal Bureau of Investigation and the Internal Revenue Service Criminal Investigation division in Washington state on the same day.

Semenov and Storm are facing charges of conspiracy to commit money laundering, conspiracy to commit sanctions violations, and conspiracy to operate an unlicensed money-transmitting business. The charges carry penalties of up to 20 years in prison for the first two counts and up to five years for the money-transmitting charge.

Semenov is currently at large. The third co-founder of Tornado Cash, Alexey Pertsev, was arrested in the Netherlands on money laundering charges in August 2022.

By FCCT Editorial Team

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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