NEW YORK, NY – The co-founders of Samourai Wallet, a cryptocurrency “mixing” service used to launder over $200 million in criminal proceeds, have admitted their guilt in federal court. KEONNE RODRIGUEZ and WILLIAM LONERGAN HILL, the masterminds behind the operation, pled guilty on July 30, 2025, before U.S. District Judge Denise L. Cote, facing consequences for facilitating a digital underworld of illicit finance.
According to federal prosecutors, Rodriguez, the Chief Executive Officer of Samourai, and Hill, the Chief Technology Officer, conspired to operate an unregistered money transmitting business that deliberately obscured the origins of funds flowing from dark web markets, cyber intrusions, phishing schemes, and decentralized finance (DeFi) frauds. The pair engineered Samourai with two specific tools for concealment: “Whirlpool” and “Ricochet.”
“The defendants created and operated a cryptocurrency mixing service that they knew enabled criminals to wash millions in dirty money, including proceeds from cryptocurrency thefts, drug trafficking operations, and fraud schemes,” stated Attorney for the United States, Nicolas Roos. “When criminals exploit cryptocurrency technology for illicit purposes, it undermines the public trust and unfairly burdens legitimate cryptocurrency companies that are committed to operating lawfully. This Office and our partner agencies are committed to holding accountable those who exploit emerging technologies to launder crime proceeds.”
The mechanics of the scheme were chillingly effective. “Whirlpool,” launched in 2019, shuffled Bitcoin transactions between Samourai users, effectively erasing the digital trail and preventing law enforcement and exchanges from tracing funds. “Ricochet,” operational since 2017, added layers of unnecessary transactions – “hops” – further muddying the waters and obscuring the connection between sender and receiver. IRS-CI Special Agent in Charge Harry T. Chavis, Jr. bluntly stated the pair didn’t just facilitate the money movement, they *encouraged* it, admitting they transmitted over $200 million in “dirty” money. “Even with all the ‘washing’ in this scheme, no one was clean in these transactions,” he added.
Court documents reveal the scale of the operation is staggering. Since Ricochet’s launch and Whirlpool’s inception, the pair laundered over 80,000 Bitcoin – valued at more than $2 billion at the time of the investigation. FBI Assistant Director in Charge Christopher G. Raia emphasized the severity of the crime: “Keonne Rodriguez and William Hill’s guilty pleas prove their cryptocurrency mixing service–Samourai Wallet–was designed to conceal criminal financial transactions and launder millions of dollars of dirty money. The FBI is committed to bringing to justice anyone who uses technological innovation to facilitate illicit activity.”
The guilty pleas of Rodriguez and Hill represent a significant victory for federal investigators cracking down on the use of cryptocurrency for criminal enterprises. While sentencing dates have not yet been announced, the pair faces substantial prison time for their role in enabling a vast network of illicit financial activity. The investigation was a collaborative effort between the U.S. Attorney’s Office, IRS-CI, and the FBI, signaling a coordinated push to combat crypto-fueled crime.
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Key Facts
- State: New York
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|Cybercrime|Organized Crime
- Source: Official Source ↗
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