Tornado Cash Developer Denied Bail, Will Remain in Prison for Extra 90 Days (Report)


Alexey Pertsev, developer of the U.S.-sanctioned Ethereum-based cryptocurrency mixer Tornado Cash, will have to spend a minimum of 90 days in jail, although he is yet to be charged with a crime.

The arrest of the Tornado Cash developer has sparked outrage and concerns from the crypto community, which believes that such action could have grave implications for other open-source developers.

  • A court hearing in the Netherlands held on Wednesday (August 24, 2022) ruled that Pertsev will have to be retained for an extra 90 days. The ruling came after the judge rejected requests from Pertsev’s lawyers to grant the defendant bail.
  • According to a Dutch court spokesperson, an initial public hearing must take place within the 90 days.
  • As previously reported by CryptoPotato, Pertsev was arrested by Dutch authorities in Amsterdam on the suspicion that the developer covered up illicit financial flows and enabled money laundering through Tornado Cash.
  • The arrest has caused several protests among crypto advocates, with concerns that such an action could start a wave of arrests of open-source developers who cannot control how their codes are used.
  • There is a current online petition seeking Pertsev’s release. It is looking to gather 2,500 signatures and has already been signed by 2,485 people. Also, over 50 people gathered in Amsterdam’s Dam Square to protest the arrest.

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

Credit: Source link

Leave A Reply

Your email address will not be published.