Dutch Court Releases Tornado Cash Developer Alex Pertsev On House Arrest Until Trial


According to Coin Desk, Alexey’s attorney Keith Cheng voiced excitement about his client’s freedom. Cheng said the case raises critical concerns about privacy on the Ethereum blockchain and promised to intensify defense efforts now that “he can be set free”.

The Tornado Cash developer will be released next Wednesday after authorities install surveillance devices in Alexey Pertsev’s home Pertsev will also wear an ankle bracelet to monitor his movements. A Dutch court will hold an investigative hearing on May 24 where a judge will assess Pertsev’s residency status.

Tornado Cash’ Alexey Pertsev Arrested For Money Laundering

Dutch police detained Pertsev back in August 2022 after the country’s financial crime authority FIOD issued arrest orders. Authorities claimed that the Tornado Cash code writer laundered over 500,000 ETH worth over $984 million at current prices. They also claimed that Pertsev should have known the funds were generated from criminal operations.

Government prosecutors claimed that Pertsev was a flight risk following his arrested and should remain in prison awaiting trial. Also, investigators said the Tornado Cash developer could hide or destroy evidence if released.

North Korean Links Attract U.S. Sanctions

The U.S. Office of Foreign Assets Control (OFAC) sanctioned Tornado Cash shortly before Pertsev’s arrest. Federal prosecutors said the North Korean hacker group Lazarus leveraged the crypto mixer to launder stolen funds and finance crime.

At least two lawsuits were launched against the OFAC following the sanction on the Ethereum-based crypto tumbler.

Source: Read Full Article

Crypto Comments Off on Dutch Court Releases Tornado Cash Developer Alex Pertsev On House Arrest Until Trial