RomanStorm案

Tornado Cash: developer convicted of financial crime…🫢😱

Roman Storm, co-founder of the mixer Tornado Cash, was found guilty of operating an unlicensed money transmission service. The case serves as a strong warning about the legal risks for developers in the crypto sector. 

#RomanStorm案 @BullifyX @Crypto Mullah SJ @BitlayerLabs

Bitcoin#bitcoin hovers near $114K, caught between ETF outflows and weak volume, while inflows suggest budding institutional interest . Ethereum led an altcoin rally, capturing over 11.8% market dominance following record net inflows . XRP faces pressure; if its $2.65 support fails, a full pump retrace is possible . Meanwhile, Tornado Cash co‑founder Roman Storm was partly convicted while other charges deadlocked .
#bitcoin $BTC #Xrp🔥🔥 #RomanStorm案 $XRP

The Tornado Cash case is nearing its end as the Justice Department rarely clarifies that venture capital firms are not targets of the investigation.

As the criminal case against Tornado Cash co-founder Roman Storm approaches its conclusion, the U.S. Department of Justice (DOJ) issued an unusual clarifying statement in court.

Federal prosecutor Nathan Rehn pointed out that the allegations against Dragonfly and its executives, as well as related media reports, are inaccurate and misleading.

According to Dragonfly managing partner Haseeb Qureshi, federal prosecutor Nathan Rehn stated in court on July 28 that this cryptocurrency venture capital firm and its leaders are not targets of the investigation.

This statement has relieved Dragonfly, which had previously been caught in the court of public opinion, as the firm faced pressure due to its investment in Tornado Cash in 2020. In fact, Dragonfly conducted compliance assessments prior to the investment to ensure it met U.S. FinCEN's anti-money laundering regulations.

Meanwhile, Roman Storm, as a co-founder of Tornado Cash, is now accused of laundering over $1 billion due to a cryptocurrency privacy protocol released in 2019, and is suspected of violating U.S. sanctions against the North Korean hacking group Lazarus.

Since the court opened on July 14 in the Manhattan federal court, the trial has entered a critical stage, with blockchain analysis experts and former users of the platform testifying. The prosecution is attempting to prove that Storm actively participated in illegal transaction reviews, while the defense cites the "code neutrality" principle, arguing that developers should not be held responsible for how the protocol is used.

Currently, the market is widely focused on the fact that the final judgment in this case could set an important precedent for the liability of open-source developers. If all charges are upheld, Storm could face up to 45 years in prison;

Interestingly, the DOJ's rare clarification is unusual, as this public exclusion of specific institutions from suspicion in court violates the norm, since the Department of Justice typically remains silent about investigation targets. This statement seems aimed at preventing the case from impacting the venture capital industry and refocusing attention on the Storm case.

As closing arguments draw near, the verdict in this case will not only determine Storm's personal fate but may also become a bellwether for the U.S. approach to open-source software liability. As Qureshi stated: "The outcome will resonate profoundly on the future of privacy rights and open-source innovation."

#TornadoCash审判 #RomanStorm案 #Dragonfly澄清