Tornado Cash Founder to Remain in Custody After His Bail Was Denied

Alexey Pertsev, the developer of the Tornado Cash protocol, has been denied release by a Dutch court on July 12.

Convicted of money laundering in May and sentenced to over five years in prison, Pertsev remains in custody as he plans to appeal.

The Hertogenbosch Court of Appeal rejected his release, despite his lawyers arguing he was not a flight risk and needed internet access for his appeal.

The court maintained its stance due to the severity of the case, where Pertsev and his colleagues were found guilty of facilitating the laundering of $2.2 billion in stolen cryptocurrency.

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Compound Finance Website Breach Sparks Security Concerns

This case, following US Treasury sanctions on Tornado Cash, has raised concerns about the liability of developers of privacy-focused open-source software. It highlights the tension between blockchain innovation and regulatory compliance.

Further legal challenges continue, with developer Roman Storm set to face trial in the US on similar charges in September.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.