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Creator of the Monero cryptocurrency released from custody in the US

Creator of the Monero cryptocurrency released from custody in the US
“I am actively working with my lawyers on how to return to South Africa as soon as possible, so that I can take care of this case and deal with it once and for all,” said Riccardo Spagni.

Riccardo Spagni, former lead developer of the high-anonymity cryptocurrency (Monero), reported that US officials had released him after more than a month in arrest.

In a September 21st tweet, Spagni said he was working with his legal team to return to South Africa to address the allegations against him. Authorities in the US arrested Spagni in August on suspicion of fraud related to alleged crimes that took place in South Africa in 2009-2011 at Cape Cookies.

“I am actively working with my lawyers on how to return to South Africa as soon as possible so that I can take care of this case and deal with it once and for all,” said Spagni.

The South African government sought the extradition of Spagni on the allegations, claiming that it “used false information” to create invoices that inflated the prices of certain goods and services, and that the funds were transferred to a bank account he controlled. If convicted, he faces up to 20 years in prison.

This is Spagnia’s first tweet since July, although someone – possibly his lawyers – retweeted a statement posted on his wife’s Twitter shortly after his arrest. The legal team said the arrest was due to “an alleged failure to appear in court and nothing else.”

Spagni has been involved in the crypto space for over a decade. Many know him for his colorful social media posts and his ironic humour about cryptocurrency projects and industry data.

30-09-2021, Mr Advice TEAM


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