NewsletterJust In: Tornado Cash Developer Alexey Pertsev’s Jail Stay Extended Yet Again
Alexey Pertsev, the developer of cryptocurrency mixer Tornado Cash, is set to stay in jail for longer as a Netherlands court ordered for an extension on Tuesday. According to reports, the court turned down arguments that Perstev was in no position to control Tornado Cash. The prosecutors argued that the developer is a key person in the functioning of the crypto mixer. On 12 August, the developer was arrested over suspicion that he was involved in money laundering through crypto mixer service Tornado Cash.
The Netherlands authorities had at the time said the mixer was used to hide money flows from criminals and was utilized for cryptocurrency scams and hacks. Following that, authorities in the U.S. Treasury department imposed sanctions on addresses concerning Tornado Cash and barred residents from using it. The move was aimed at keeping users away from decentralized finance (DeFi) hacks, thefts and exploits.
Tornado Cash Developer Alexey Pertsev Case Next Hearing
In a latest, the court ordered that Pertsev will serve another three months of custody in the country. The court session has been postponed to February 20, 2023. Pertsev served custody for 90 days after the court ordered for it on August 25. The decision attracted huge criticism from the crypto community, which also took out a protest against the developer’s arrest. The protestors demanded for targeting criminals involved in hacks and thefts instead of developers.
Also Read: FTX Drainer Swapping Ethereum To Bitcoin; Will It Impact ETH Price?
The Tornado cash came into light after the news of Nomad hack involving loss of around $8 million. The Office of Foreign Assets Control (OFAC) said at the time that the Nomad hackers utilized Tornado cash after gaining access to the funds. Prior to that, the $80 million exploit on DeFi exchange Fei Protocol also involved the perpetrators using Tornado Cash. The authorities also stated that the crypto mixer “repeatedly failed to curtail malicious cyber activities.”
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