Tornado Cash Founder to Remain in Custody After His Bail Was Denied
13.07.2024 11:00 1 min. read Alexander Stefanov
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.
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.
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