What went wrong with Samourai Wallet?

8 replies 83 views
SilentOrbitSenior Member
Posts: 97 · Reputation: 1264
#1Aug 24, 2019, 09:55 AM
After the recent arrests and asset seizures of the Samourai founders, we should really look at what this means for privacy in the crypto world. Seems like every few months there's another crackdown on privacy methods. They've targeted mixers, seized bitcoins, arrested key players. This case feels different though.
2 Reply Quote Share
AtomicForkFull Member
Posts: 352 · Reputation: 479
#2Aug 24, 2019, 10:22 AM
I saw in the DoJ report they were talking about working with "grey and black markets". That kinda shows they knew what they were getting into, right? If they were just about privacy, it might have helped their case against money laundering accusations.
1 Reply Quote Share
Posts: 147 · Reputation: 161
#3Aug 24, 2019, 04:41 PM
Right? Operating a crypto mixer in the US, knowing how the government feels about it, was just asking for trouble. Look what happened to Chipmixer. They’ve been keeping an eye on these mixers for ages. Trying to run one from the US is basically asking for a raid.
3 Reply Quote Share
planktonHero Member
Posts: 1284 · Reputation: 2049
#4Aug 24, 2019, 10:19 PM
Where are these headlines about Russian oligarchs even coming from? Seriously. If I had a lot of bitcoins, I’d just use the original Bitcoin Core wallet. It’s safer. And yeah, criminals use privacy tools. But a pro can keep their standard wallet safe too.
5 Reply Quote Share
Posts: 124 · Reputation: 3
#5Aug 24, 2019, 10:27 PM
Honestly, if they were gonna market their service like that in such a hostile environment, they should’ve kept things super low-key. Pick a jurisdiction that actually respects privacy. It’s ridiculous that a casual tweet could land them decades in prison. Oligarchs have way better methods for laundering money.
2 Reply Quote Share
SilentOrbitSenior Member
Posts: 97 · Reputation: 1264
#6Aug 25, 2019, 03:28 AM
What if the arrested guys were just transferring funds? I mean, what’s the justification for taking fees on transfers? Who were they charging and for what? If Samourai was fully decentralized, there’d be a better argument for plausible deniability.
1 Reply Quote Share
topblastNewbie
Posts: 164 · Reputation: 27
#7Aug 25, 2019, 06:26 AM
The US government acts out when it feels threatened, especially regarding geopolitics. They’ve messed with countries just to maintain control. Now they’re worried that crypto could undermine their economy. I think their actions against big exchanges and mixers will backfire in the age of AI.
5 Reply Quote Share
planktonHero Member
Posts: 1284 · Reputation: 2049
#8Aug 25, 2019, 11:41 AM
Governments have always been against crypto. Especially US agencies, they're always on the lookout for mixers. It’s like they see a new threat and ask for a ton of funding. They just keep playing this game.
4 Reply Quote Share
0xAtlasHero Member
Posts: 4 · Reputation: 3246
#9Aug 25, 2019, 04:46 PM
Totally agree with everything you said. And didn’t FinCen even say they weren’t a money transmitter before this all blew up? This is a huge problem for the prosecution. We should definitely start a dedicated thread about this case. It’s got a lot of layers.
0 Reply Quote Share

Related topics