Samourai Wallet Co-Founder Pleads Not Guilty, Released on $1M Bond Amid Money Laundering Charges

Keonne Rodriguez, co-founder of Samourai Wallet, has entered a not guilty plead after being charged by the U.S. Justice Department with conspiracy to operate an unlicensed money-transmitting business and money laundering. He was released on a $1 million bond with strict conditions, including wearing a location monitoring device and being confined to his residence in Harmony, Pennsylvania, with limited travel to certain parts of New York and Pennsylvania. Additionally, Rodriguez is prohibited from engaging in any cryptocurrency transactions without prior approval from the court. Meanwhile, his co-defendant, William Hill, the chief technology officer of Samourai Wallet, was arrested in Portugal and is awaiting extradition proceedings. Both individuals could face lengthy prison sentences if convicted. The arrests are part of the U.S. government's efforts to crack down on cryptocurrency mixers, which have been accused of facilitating money laundering activities.