Developer Jailed for $1.2B Laundering Seeks $1M for Legal Fight Amid Crypto Community Support

August 12, 2024
Developer Jailed for $1.2B Laundering Seeks $1M for Legal Fight Amid Crypto Community Support
  • Alexey Pertsev, a developer of Tornado Cash, is seeking financial support for his legal battle in the Netherlands after being sentenced to over five years in prison.

  • On May 14, Pertsev was convicted of money laundering by the 's-Hertogenbosch Court of Appeal and sentenced to five years and four months in prison, based on allegations of laundering $1.2 billion through Tornado Cash.

  • Having exhausted his funds, Pertsev is currently facing significant financial challenges as he prepares to appeal the money laundering charges.

  • On August 10, Pertsev launched a fundraising campaign on the social media platform X, aiming to raise between $750,000 and $1 million for his legal expenses.

  • A support account for Pertsev has emphasized the urgent need for financial contributions to cover ongoing legal costs.

  • The fundraising campaign encourages donations in Ethereum through the decentralized platform Juicebox, highlighting the importance of privacy and open-source development.

  • JusticeDAO, an advocacy group, has been established to raise funds for Pertsev's legal defense, successfully collecting over 654 Ether (approximately $2.3 million) by June 19.

  • An additional 70 Ether has been raised via the JusticeDAO page, with Juicebox providing transparency through a publicly available spreadsheet for tracking expenses.

  • The crypto community is rallying behind Pertsev and his co-developer Roman Storm, who are both facing serious charges related to Tornado Cash.

  • Daniel Buchner from Block has criticized the idea that developers could be held criminally or civilly liable for how their code is used, regardless of its application.

  • Privacy advocates express concern over Pertsev's case, fearing it sets a dangerous precedent that could hold developers liable for the misuse of their open-source software.

  • The US government has initiated legal actions against several crypto privacy service providers, further highlighting the regulatory challenges facing the blockchain community.

Summary based on 2 sources


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