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William Hill, co-founder of Bitcoin mixing wallet Samourai, has been sentenced to four years in prison for running a money transfer company that knowingly processed more than $237 million in proceeds from illegal activities.
The ruling came after he admitted that the “Samourai” platform facilitated money laundering through hybrid vehicles that concealed the source of funds.
Prosecutors noted that Hill and his partner, Keon Rodriguez, advertised their services to users on dark web forums and admitted internally that mixing transactions amounted to Bitcoin money laundering.
Rodriguez was sentenced to five years in prison.
The case is part of a stepped-up crackdown by U.S. authorities on developers of cryptocurrency privacy tools.
While supporters argue these tools protect users’ privacy, critics claim they facilitate financial crime.
The guilty pleas of “Hill” and the Samurai team are expected to set a legal precedent for future crackdowns on unlicensed remix services.
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