In a delightful twist of fate, Alexey Pertsev, the illustrious developer of Tornado Cash, has been granted a modicum of freedom by a Dutch court. The court, in its infinite wisdom, has decided to release Pertsev from his concrete abode on February 7th, at the ungodly hour of 9 am UTC or 10 am local time.
This unexpected turn of events comes as a result of the court’s magnanimous decision to exchange Pertsev’s pretrial detention for the more humane option of electronic monitoring. One can only imagine the relief Pertsev must feel, knowing that he will no longer be confined to the cold, unforgiving walls of a Dutch prison.
Pertsev has been languishing in the Netherlands since August 2022, all thanks to the U.S. Treasury’s Office of Foreign Assets Control’s decision to sanction the Tornado Cash platform over allegations of money laundering and illicit finance. It seems that the long arm of the law has finally taken pity on the poor chap.
Despite the fact that Pertsev and his legal team are currently working on his appeal after being charged with money laundering in May 2024, the developer remains optimistic. “This will give me a chance to work on my appeal and fight for justice,” Pertsev declared, with a hint of sarcasm, no doubt. “Thank you to everyone who supported me and who made this possible!”
Dear Friends, on Friday 7 February at 10 am I will be free! It is not real freedom, but it is better than prison. Today, a Dutch court suspended my pretrial detention under the condition of electronic monitoring. This will give me a chance to work on my appeal and fight for…
In a shocking turn of events, the Tornado Cash (TORN) developer was found guilty of money laundering charges by a Dutch court. The court, in its infinite wisdom, sentenced Pertsev to a whopping five years and four months in prison. However, his lawyers, being the tenacious bunch that they are, immediately filed an appeal to the ruling.
Pertsev has been denied bail not once, not twice, but thrice. The first time was in July 2024, and the second time was in November 2023. The court denied the developer’s plea to be released under surveillance after the prosecution viewed Pertsev as a “flight risk.” One can only imagine the frustration Pertsev must feel, knowing that he has been denied bail not once, not twice, but thrice.
During the trial, Pertsev’s lawyers argued that developers should not be held liable for building smart contract protocols accessible to anyone. Crypto industry stakeholders have long echoed this sentiment. However, the court countered the argument, saying Pertsev and the other Tornado Cash co-founders failed to implement strict measures to prevent the platform from being misused by criminal entities such as North Korean cybercrime group, Lazarus.
In August 2023, Tornado Cash and its co-founders were indicted on conspiracy and illegal money-transferring charges by the U.S. court. Authorities accused co-founders Roman Storm and Roman Semenov of helping launder over $1 billion in illicit funds. One can only imagine the shock and awe that must have rippled through the crypto community upon hearing this news.
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2025-02-07 12:12