Tornado Cash Developer to be Released from Prison on Electronic Monitoring

Alexey Pertsev, a developer of the Tornado Cash platform, is expected to be released from prison on February 7, following a Dutch court ruling that canceled his pretrial detention in exchange for electronic monitoring.

Pertsev announced his release on X, stating that he will be freed at 9 am UTC or 10 am local time. The developer has been serving detention in the Netherlands since August 2022, due to sanctions imposed by the U.S. Treasury’s Office of Foreign Assets Control over allegations of money laundering and illicit finance.

Background of the Case

Pertsev and his lawyers are currently working on his appeal after being charged with money laundering in May 2024. Although he acknowledges that his release is “not real freedom,” Pertsev is grateful for the ruling, which allows him to work on his appeal and fight for justice.

“This will give me a chance to work on my appeal and fight for justice. Thank you to everyone who supported me and who made this possible!”

Charges and Trial

Pertsev was found guilty of money laundering charges by a Dutch court and sentenced to five years and four months in prison. His lawyers immediately filed an appeal to the ruling. Pertsev has been denied bail three times, with the court viewing him as a “flight risk” due to concerns that he may attempt to flee the country.

During the trial, Pertsev’s lawyers argued that developers should not be held liable for building smart contract protocols accessible to anyone. However, the court countered this argument, stating that Pertsev and the other Tornado Cash co-founders failed to implement strict measures to prevent the platform from being misused by criminal entities.

US Charges and Indictment

In August 2023, Tornado Cash and its co-founders were indicted on conspiracy and illegal money-transferring charges by a US court. Authorities accused co-founders Roman Storm and Roman Semenov of helping launder over $1 billion in illicit funds.

Stay up-to-date with the latest cryptocurrency news and developments on Global Crypto News.

Post Views: 1