The Arbitrum blockchain community recently held a vote to provide financial assistance for the legal defense of the Tornado Cash cryptocurrency mixer team. The initiative, which began on March 8, aims to support Tornado Cash co-founder Roman Storm and developer Alexey Pertsev.

The proposal highlights Tornado Cash as a leading privacy and security solution in the crypto industry, offering users a secure way to conduct private transactions on the Ethereum blockchain. The community believes in upholding the right to privacy and security, as stated in the proposal:

“No one shall be subject to arbitrary interference with his privacy, family, home or correspondence, nor to attacks upon his honor and reputation. Everyone has the right to the protection of the law against such interference or attacks.”

The purpose of this initiative is to provide legal protection for individuals and uphold developers’ rights to contribute to the deployment of open-source software. With the support of the legal foundation, the goal is to safeguard the future of privacy-preserving technologies and uphold the principles of innovation, decentralization, and individual sovereignty in the crypto industry.

Tornado Cash’s Legal Troubles

In February, a crowdfunding campaign on GoFundMe to cover legal costs for Tornado Cash was canceled due to a violation of the platform’s terms of service. The platform returned all contributed assets to donors after raising $30,000 to support the mixer.

In August 2022, Tornado Cash was placed on the Office of Foreign Assets Control (OFAC) sanctions list for money laundering activities. It was reported that hackers, including the North Korean group Lazarus, had laundered over $7 billion through the mixer. Developer Alexey Pertsev was arrested in Amsterdam on Aug. 12, 2022, on suspicion of laundering criminal proceeds using Tornado Cash.

For more news and updates on the crypto industry, explore Global Crypto News.

Post Views: 5