Roman Storm, co-founder of the cryptocurrency mixing service Tornado Cash, is set to stand trial on July 14, facing a streamlined set of charges following a recent decision by the U.S. Department of Justice (DOJ). While prosecutors have dropped one count related to operating an unlicensed money transmitting business, they continue to pursue other serious allegations.

The DOJ’s decision to drop the specific charge aligns with an April 7 memorandum from Deputy Attorney General Todd Blanche, which indicated a shift away from prosecuting crypto mixers for the actions of their end users or unintentional regulatory violations. Acting U.S. Attorney for Manhattan, Jay Clayton, confirmed that the remaining charges against Storm are consistent with this updated policy.

Storm still faces two significant charges: conspiracy to commit money laundering and conspiracy to violate U.S. sanctions. Each of these charges carries a potential maximum sentence of 20 years in prison. The prosecution alleges that Tornado Cash facilitated the laundering of over $1 billion in cryptocurrency, including funds associated with the North Korean state-sponsored hacking group, Lazarus Group.

Storm has pleaded not guilty to all charges. His co-founder, Roman Semenov, remains at large and is believed to be residing in Russia.

The DOJ’s revised stance on crypto enforcement has also been cited by other individuals in the cryptocurrency sector seeking to have their charges dismissed, indicating a broader impact of the policy change on ongoing legal proceedings.

The Federal Bureau of Investigation (FBI) has issued a warning about a sophisticated phishing campaign employing deepfake technology to impersonate senior U.S. government officials. These attacks, which began in April, utilize AI-generated voice messages and text communications to deceive current and former federal and state officials, aiming to extract sensitive information and credentials.

According to the FBI, the perpetrators initiate contact by posing as high-ranking officials to build trust with their targets. Once rapport is established, victims are directed to malicious websites controlled by the attackers, designed to harvest login credentials and other confidential data. Compromised accounts can then be exploited to target additional officials or associates, amplifying the potential damage.

The agency emphasizes that any unsolicited communication claiming to be from a senior U.S. official should be treated with skepticism. Indicators of deepfake content include distorted facial features in images or videos and inconsistencies in sender information. The FBI advises against sharing sensitive information with unknown contacts, clicking on suspicious links, and recommends the implementation of multi-factor authentication to enhance account security.

In a related incident, Sandeep Nailwal, co-founder of the blockchain platform Polygon, reported being targeted by a deepfake scam. Attackers hacked the Telegram account of Polygon’s ventures lead and invited individuals to a Zoom call featuring a deepfake video of Nailwal. During the call, participants were prompted to install software, which could potentially compromise their systems. Nailwal has urged users to exercise caution and avoid installing software during unsolicited online interactions.

These developments underscore the growing threat posed by AI-driven deepfake technologies in cybercrime. The FBI continues to monitor the situation and urges individuals to remain vigilant against such sophisticated phishing attempts.

Brazilian fintech firm Méliuz has officially transitioned into the country’s first publicly traded Bitcoin treasury company following shareholder approval on May 15. The company simultaneously announced the acquisition of an additional 274.52 Bitcoin (BTC), valued at approximately $28.4 million, bringing its total holdings to 320.3 BTC, worth over $33 million at current market prices.

Executive Chairman Israel Salmen celebrated the milestone, stating, “Historic day! Our shareholders have approved, by a wide majority, the transformation of Méliuz into the first Bitcoin Treasury Company listed in Brazil.” The recent purchase was made at an average price of $103,604 per BTC, reflecting a 600% yield on the company’s Bitcoin investments.

Méliuz’s strategy involves accumulating Bitcoin in an “accretive way” for shareholders, utilizing various financial instruments. Rather than merely allocating a portion of its cash reserves to Bitcoin as a hedge against inflation or currency devaluation, the company has repositioned its purpose to maximize the amount of Bitcoin per share.

This strategic shift has positively impacted Méliuz’s stock performance. Since announcing its initial Bitcoin purchase of 45.73 BTC on March 6, the company’s shares (CASH3.SA) have surged over 117%, according to Google Finance data. Méliuz’s market capitalization now exceeds 727.9 million Brazilian reais, or more than $128 million.

While Méliuz holds 320.3 BTC, e-commerce platform MercadoLibre currently possesses a larger Bitcoin reserve, with over 570 BTC valued at $59.2 million. However, Méliuz distinguishes itself by integrating Bitcoin investments into its core business strategy, positioning itself as a pioneer in Latin America’s corporate Bitcoin adoption.

Méliuz is renowned for its cashback program and serves over 30 million users across Brazil. The company’s bold move into Bitcoin treasury management reflects a growing trend among Latin American firms embracing cryptocurrency as a strategic asset.