Tornado Cash founder released on bail

vv181

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Quote from: safar1980 on August 28, 2023, 10:25:16 AM

Quote from: vv181 on August 28, 2023, 08:23:57 AM

Quote from: krishnaverma on August 27, 2023, 11:24:44 PM

At least, him being charged is a good sign that it is not easy to get away with crypto scams now.

That is completely unrelated. It has nothing to do with him personally. The application itself, Tornado Cash, is still accessible and being used widely. The founder itself did not manage and facilitate cryptocurrency scams per se. He simply did not do crypto scams. You are taking a wrong understanding that he contributes directly to the cryptocurrency scams.

The actual problem is that cryptocurrency scams can happen even without Tornado Cash, there are many tools that those scammers can utilise to hide their footprint. Charging the developer obviously did not solve the actual problem.

The reason for the accusations of software developers not in the fact that they are engaged in fraud, money laundering or helping hacker groups to cover up the traces of a crime, but in their assistance to these crimes. After such a trial, any developer of such software or a smart contract runs the risk of being accused of crimes.

Indeed as such, I do say he is not directly related to those things. The case do similar to any other application, any developer can build things that might conform to legal activity, and so does in a certain manner an illegal activity.

What I try to emphasise is that just because the mere developer is being charged due to his involvement in the project does not mean it will automatically reduce the amount of cryptocurrency scams. This point is what I tried to align because it seems OP got the wrong point of view. Cryptocurrency scam is enormous and varies, on the contrary, Tornado Cash is a minuscule thing.

safar1980

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Quote from: vv181 on August 28, 2023, 08:23:57 AM

Quote from: krishnaverma on August 27, 2023, 11:24:44 PM

At least, him being charged is a good sign that it is not easy to get away with crypto scams now.

That is completely unrelated. It has nothing to do with him personally. The application itself, Tornado Cash, is still accessible and being used widely. The founder itself did not manage and facilitate cryptocurrency scams per se. He simply did not do crypto scams. You are taking a wrong understanding that he contributes directly to the cryptocurrency scams.

The actual problem is that cryptocurrency scams can happen even without Tornado Cash, there are many tools that those scammers can utilise to hide their footprint. Charging the developer obviously did not solve the actual problem.

The reason for the accusations of software developers not in the fact that they are engaged in fraud, money laundering or helping hacker groups to cover up the traces of a crime, but in their assistance to these crimes. After such a trial, any developer of such software or a smart contract runs the risk of being accused of crimes.

Vickysagar

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Quote from: krishnaverma on August 27, 2023, 11:24:44 PM

Tornado Cash founder , Roman Storm, has been released on bail. He was charged on a money laundering case of $1 billion by US department of Justice. At least, him being charged is a good sign that it is not easy to get away with crypto scams now.

It's easy to catch a crypto scammer if he's a CEO of an exchange or something like that. Small scammers that ask you to send them ETH to give you back twice more most likely still won't be caught.

cryptoaddictchie

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Quote from: krishnaverma on August 27, 2023, 11:24:44 PM

Tornado Cash founder , Roman Storm, has been released on bail. He was charged on a money laundering case of $1 billion by US department of Justice. At least, him being charged is a good sign that it is not easy to get away with crypto scams now.

Maybe its a providence. Its not like he really scam or do the crime but Government must be compelling to investigate the case and it only a protocol for those to be related but we knew he only do the tool to develop it but since it escalate and related to hacking from a big group from North Koreans.

vv181

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Quote from: krishnaverma on August 27, 2023, 11:24:44 PM

At least, him being charged is a good sign that it is not easy to get away with crypto scams now.

That is completely unrelated. It has nothing to do with him personally. The application itself, Tornado Cash, is still accessible and being used widely. The founder itself did not manage and facilitate cryptocurrency scams per se. He simply did not do crypto scams. You are taking a wrong understanding that he contributes directly to the cryptocurrency scams.

The actual problem is that cryptocurrency scams can happen even without Tornado Cash, there are many tools that those scammers can utilise to hide their footprint. Charging the developer obviously did not solve the actual problem.

blockman

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Quote from: krishnaverma on August 27, 2023, 11:24:44 PM

Tornado Cash founder , Roman Storm, has been released on bail. He was charged on a money laundering case of $1 billion by US department of Justice. At least, him being charged is a good sign that it is not easy to get away with crypto scams now.

The news was made yesterday so for the record and reference.
(https://dailyhodl.com/2023/08/27/us-releases-tornado-cash-founder-on-bail-after-1000000000-money-laundering-charge/)

Quote from: yhiaali3 on August 28, 2023, 07:13:02 AM

Wow a billion dollars!!! This is a very large amount in cryptocurrency,

CMIIW, the charge was $1B but that doesn't mean it was the price that he's paid for the bail.

Quote from: yhiaali3 on August 28, 2023, 07:13:02 AM

where did he get all this money that he laundered in the first place?

It's a mixing service but in ETH just like the Bitcoin mixing service that we knew here in the forum.

Apocollapse

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What he did that make you think he's a scammer? AFAIK he only create mixing project and sadly his project alleged with criminal who use Tornado cash to mix their coins, that's why it's classified as money laundering.

Scamming is an act where the founder only allow people to make deposit to Tornado cash and then they can't withdraw their coins.

yhiaali3

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Wow a billion dollars!!! This is a very large amount in cryptocurrency, where did he get all this money that he laundered in the first place?

Yes good news that he got arrested but bad news how many people have been scammed by this scammer?

Hispo

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That is a very unexpected release, I would have assumed the US justice would not take any chances in this guy and keep him locked up, those charges are serious enough to make anyone to consider the possibly of an espace out the country.

I have a hunch this story may be used to further stigmatize crypto currency, specially those which are privacy focused. Roll Eyes

Also, OP. It would be good if you or someone else included the source of this news, so no one will accuse you of making this up and also it would provide more insight on his bail release.
I would do it myself but I cannot from the location I am currently in. Tongue

trunghai2805

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Laundering one billion dollars through cryptocurrencies, perhaps this is the largest case I've known of up until now.

krishnaverma

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Tornado Cash founder , Roman Storm, has been released on bail. He was charged on a money laundering case of $1 billion by US department of Justice. At least, him being charged is a good sign that it is not easy to get away with crypto scams now.

Topic: Tornado Cash founder released on bail (Read 95 times)