Samurai Wallet Founders Arrested

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 26 April 2024

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

The US continues its assault on crypto mixers. NLW explores the community reactions -- the good, bad and ugly. Today's Show Brought To You By Ledger - 5% to Bitcoin Developers When You Buy https://shop.ledger.com/pages/bitcoin-hardware-wallet Consensus 2024 is happening May 29-31 in Austin, Texas. This year marks the tenth annual Consensus, making it the largest and longest-running event dedicated to all sides of crypto, blockchain and Web3. Use code BREAKDOWN to get 15% off your pass at https://go.coindesk.com/3PWW96A. Superintelligent - Learn AI fast. Get 50% off your first month with code "breakdown" https://besuper.ai/ Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto Subscribe to the newsletter: https://breakdown.beehiiv.com/ Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.3	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:18.3	What's going on, guys? It is Thursday, April 25th, and today we are talking about the samurai arrests.
0:24.5	Before we get into that, however, if you are enjoying the breakdown, please go subscribe to it,
0:28.1	give it a rating, give it a review, or if you want to dig deeper into the conversation,
0:31.6	come join us on the breakers discord. You can find a link in the show notes or go to bit.ly
0:35.4	slash breakdown pod. Well, friends, some big news yesterday and a lot of discussions surrounding it.
0:42.0	The U.S. government has launched the latest round in their attack against crypto mixers,
0:45.7	shutting down samurai wallet.
0:47.3	Founders Keone Rodriguez and William Lonergan Hill have been arrested.
0:50.2	They are charged with conspiracy to commit money laundering and conspiracy to operate
0:54.0	an unlicensed
0:54.8	money-transmitting business.
0:56.0	The charges carry maximum sentences of 20 years and 5 years, respectively.
1:00.0	The DOJ alleged that Samurai executed over $2 billion in unlawful transactions,
1:06.0	and facilitated more than $100 million in money laundering transactions from dark web markets and crypto hacks.
1:11.3	Samurai's web servers and domain have been seized with assistance from law enforcement in
1:14.8	Iceland where the server was physically located. Google has also been served with an order
1:18.8	to remove the wallet from their app store. FBI assistant director in charge, James Smith,
1:23.3	said that Samurai, quote, provided other criminals of virtual haven for the clandestine exchange
1:27.9	of illicit funds. IRSCI special agent in charge Thomas Faderuso said, Samurai wallet is now
1:34.0	closed for business. To give a little context around the service, Samurai was a Bitcoin-only
	...

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