Important points:
- Co-founder of Samourai Wallet William “TDev” Hill was freed on $1 million bail.
- Hill and Keonn Rodriguez both deny that they laundered money.
- The court case will start on July 9 and 10, 2024.
- Hill was sent back to the United States from Portugal.
- The US government says Hill and Rodriguez hid more than $100 million in crypto assets.
- Hill wants to go abroad to see his family and asks for permission to do so.
William Hill is out on bail. Background and charges
William Lonergan Jr. The co-founder of the bitcoin mixer wallet Samourai Wallet, Hill (also known as TDev), was freed on bail. Hill was caught before on charges of laundering money. Hill told Judge Sarah Netburn in a letter that the bail was set at $1 million with assets worth a total of $3 million as collateral.
The Denial of Hill and Rodriguez
Hill and his coworker Keonn Rodriguez both say they are innocent and plan to fight the charges brought by the U.S. Department of Justice. The trial is set to start on July 9 and 10, 2024. Hills and Rodriguez were charged by the U.S. government in April 2024 with planning a crime to hide illegal money. The Department of Justice says that Samourai Wallet helped clean more than $100 million in crypto assets from well-known dark web markets like Silk Road and Hydra Market.
Conditions for Extradition and Bail
From Portugal, Hill was sent back to the United States. He is still in the U.S., but he wants to be able to go to another country with his wife and kids. The bail security amount would go up to $4.4 million if the request is approved. In his letter, Hill made it clear that the bail amount is equal to “absolutely all” of his family’s assets. He did this to show that he has no plans to run away.
Legal Setting
The US DOJ has gone after crypto mixers and their owners before, and this is not the first time. The co-founders of Tornado Cash are one of the most well-known examples of this type of case. For example, one of the co-founders of Tornado Cash, Alexey Pertsev, was given a 64-month prison term. Roman Storm, another defendant, is still waiting to be tried.
In conclusion
William “TDev” Hill and Samourai Wallet are still in court, which shows that coin mixing services are getting more attention and are being punished by the government. As the hearing gets closer, the results could have a big impact on the cryptocurrency business.
FAQ
Q1: What are the charges against William Hill and Keonn Rodriguez? A1: Hill and Rodriguez are charged with orchestrating a scheme to launder over $100 million in crypto assets.
Q2: What is the amount of bail set for William Hill? A2: The bail amount for William Hill is set at $1 million, secured by assets totaling $3 million.
Q3: When is the trial scheduled to begin? A3: The trial is set to begin on July 9-10, 2024.
Q4: What conditions were set for Hill’s bail? A4: Hill’s bail is secured by $3 million in assets, and if he is granted permission to travel abroad, the bail security amount will increase to $4.4 million.
Q5: How does this case compare to other similar cases? A5: This case is similar to the Tornado Cash co-founders’ case, where Alexey Pertsev was sentenced to 64 months in prison, and Roman Storm is still awaiting trial.
