2024

United

Tornado Cash

Tornado

Billion

Tornado Cash developer Alexey Pertsev, who was found guilty of laundering $2.2 Billion, has been sentenced to 5 years in prison by the Dutch court. 
The ongoing Tornado Cash case has entered a new phase, with the Tornado Cash developer sentenced to 5 years in prison by a Netherlands court. Alexey Pertsev was found guilty of laundering $2.2 Billion in illicit assets on the crypto mixer’s platform.&nbsp;&nbsp;&nbsp;&nbsp; 
<h2 class="wp-block-heading" id="strong-the-judgment-on-tornado-cash-case-strong">The Judgment on Tornado Cash Case&nbsp;</h2> 
On May 14, the Netherlands court announced its final hearing on the Tornado Cash case. The Russian, 31, has been sentenced to 64 months imprisonment for laundering $2.2 Billion in illicit assets using crypto mixers. 
Crypto mixers combine and distribute digital assets to make transactions safer and harder to trace. CoinDesk tweeted the court sentence. 
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 Tornado Cash developer Alexey Pertsev has been sentenced to 64 months in prison by a Netherlands court. <a href="https://t.co/y7NWFdZoYz">https://t.co/y7NWFdZoYz</a>— CoinDesk (@CoinDesk) <a href="https://twitter.com/CoinDesk/status/1790589259251843220?ref_src=twsrc%5Etfw">May 15, 2024</a>
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According to the three judges, the decision is a warning to other software developers working on privacy-preserving technologies. Tornado Cash, the open-source and fully decentralized <a href="https://www.thecoinrepublic.com/2024/05/15/pepe-reached-ath-bulls-might-trigger-breakout/" target="_blank" rel="noreferrer noopener">cryptocurrency </a>tumbler, was allegedly working as a favorable tool for criminals.&nbsp;&nbsp;&nbsp;&nbsp; 
However, Pertsev can appeal his sentence within 14 days of the sentencing.&nbsp;&nbsp;&nbsp; 
<h2 class="wp-block-heading" id="strong-the-2-3-billion-tornado-cash-case-strong">The $2.3 Billion Tornado Cash Case&nbsp;</h2> 
Tornado Cash was introduced as a cryptocurrency mixer in 2019 and got blacklisted by the US Department of the Treasury in August 2022. The platform had announced resources that the government blacklisted. 
<center>
 <blockquote class="twitter-tweet">
 Here's the list of Tornado Cash resources that were banned – Tornado Cash <a href="https://twitter.com/github?ref_src=twsrc%5Etfw">@GitHub</a> organization – personal <a href="https://twitter.com/github?ref_src=twsrc%5Etfw">@GitHub</a> accounts of TC contributors – all <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> on Tornado Cash contracts @circlepay – <a href="https://twitter.com/infura_io?ref_src=twsrc%5Etfw">@infura_io</a> RPC – <a href="https://twitter.com/AlchemyPlatform?ref_src=twsrc%5Etfw">@AlchemyPlatform</a> RPC – <a href="https://t.co/SHvgEjTOMV">https://t.co/SHvgEjTOMV</a> domain <a href="https://twitter.com/eth_limo?ref_src=twsrc%5Etfw">@eth_limo</a>— 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f32a.png" alt="🌪" class="wp-smiley" style="height: 1em; max-height: 1em;"> Tornado.cash 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f32a.png" alt="🌪" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@TornadoCash) <a href="https://twitter.com/TornadoCash/status/1557048526986780677?ref_src=twsrc%5Etfw">August 9, 2022</a>
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The platform has reportedly laundered over $2.3 Billion in digital assets since its launch. Furthermore, two co-founders, Roman Storm and Roman Semenov, faced allegations of money laundering and were set to go on trial in September. 
Pertsev, on the other hand, was sentenced to 64 months in jail.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 
<h2 class="wp-block-heading" id="strong-how-torn-reacted-to-pertsev-s-arrest-strong">How TORN Reacted To Pertsev’s Arrest</h2> 
As per the current market situation and the Tornado Cash case, any transaction involving TORN, the native currency of the platform, is illegal in the United States.&nbsp;&nbsp;&nbsp; 
According to CoinMarketCap, in the past 1 year, the TORN coin had dropped 56.21% and was trading at $2.77 with a market cap of $14,585,267 at publication time. 
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 <img loading="lazy" decoding="async" width="1024" height="495" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-167-1024x495.png" alt="Tornado" class="wp-image-205606" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-167-1024x495.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-167-300x145.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-167-768x371.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-167-750x362.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-167.png 1047w" sizes="(max-width: 1024px) 100vw, 1024px">
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TORN Price I Source: CoinMarketCap 
After the news of Pertsev’s sentencing dropped, TORN went from $2.837 to $2.77, which is a drop of 2.911% intraday.

Tornado Cash Developer Sentenced To 5 Years: Is The Case Over?

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