Roman Storm, co-founder of cryptocurrency mixing platform Tornado Cash, has denied the charges against him in New York District Court. Storm is facing money laundering, violation of rules and unauthorized money transfer charges.
Prosecutors argued in court that Tornado Cash served malicious purposes and laundered more than $1 billion in illegal proceeds in violation of US sanctions. Authorities also stated that founder Roman Storm helped hacker group Lazarus through the app.
Tornado Cash founder Roman Storm denied any of these accusations.
Why Was the Famous Platform Banned?
The US Treasury Department imposed sanctions on Tornado Cash in August of 2022, prohibiting citizens from using this platform. Authorities stated that malicious people lost track of them through the application.
Tornado management, on the other hand, did not pay any heed to this decision. After a long time, Roman Storm was arrested. Roman Semenov and Alexey Pertsev, co-founders of Tornado Cash, live outside the USA.
The judge ordered Storm to remain under house arrest for $2 million in personal security. The next hearing is on 30 November.
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