Tornado Cash devs charged with laundering more than $1 billion

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Photo by Amelia Holowaty Krales / The Verge

Tornado Cash developers Roman Semenov and Roman Storm have been charged with three conspiracy counts in an indictment unsealed today. Storm has been arrested and Semenov remains at large, according to a statement from the Southern District of New York.

Tornado Cash is a so-called “mixer,” a privacy service meant to obscure the trail of ownership for cryptocurrency that passes through it. The mixer “knowingly violated” US sanctions and “laundered more than $1 billion in criminal proceeds,” according to a statement from US Attorney Damian Williams. “While publicly claiming to offer a technically sophisticated privacy service, Storm and Semenov in fact knew that they were helping hackers and fraudsters conceal the fruits of their crimes.”

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