2024

DeFi

Tornado Cash

Tornado

Bedrock

<ul class="wp-block-list">
 <li><strong>Roman Storm’s trial will proceed after his dismissal bid was rejected.</strong></li>
 <li><strong>The trial is scheduled to begin on December 2, 2024.</strong></li>
</ul>
<p>Tornado Cash <a href="https://x.com/rstormsf" target="_blank" rel="noopener noreferrer nofollow">co-founder</a> Roman Storm will stand trial after a U.S. federal judge denied his motion to dismiss the case. On September 26, 2024, Judge Katherine Polk Failla ruled that Storm’s involvement in Tornado Cash extended beyond merely developing software. The platform reportedly laundered over $1 billion, with funds linked to illicit actors, including North Korea’s Lazarus Group.</p>
<div align="center">
 <blockquote class="twitter-tweet">
  <p lang="en" dir="ltr">Judge Failla's ruling denying <a href="https://twitter.com/rstormsf?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@rstormsf</a>'s motion to dismiss the indictment is an assault on the freedom of software developers everywhere.<br><br>This will go down in history as a perversion of law and a travesty of justice.<br><br>And it will go down on appeal, if that's what it takes.</p>— Jake Chervinsky (@jchervinsky) <a href="https://twitter.com/jchervinsky/status/1839412423096467753?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 26, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div>
<p>Storm, who co-founded Tornado Cash with Roman Semenov, argued that he limited his role to developing a tool to enhance privacy. However, his legal team emphasized that open-source developers should not bear responsibility for how people use their software. In contrast, prosecutors countered by presenting evidence that Tornado Cash facilitated illegal activities like money laundering. Furthermore, they argued that Storm profited from the venture, which indicated that his involvement went beyond mere software development.</p>
<h3 class="wp-block-heading" id="h-court-upholds-charges-against-storm">Court Upholds Charges Against Storm</h3>
<p>The court upheld the charges against Storm. Judge Failla sided with the prosecution, emphasizing that Tornado Cash engaged in illegal activities and that Storm played a more significant role than he claimed. The ruling dismissed Storm’s argument that his involvement solely focused on providing privacy for cryptocurrency users. Additionally, the court pointed to his financial interests and control over the platform as critical reasons to move forward with the trial.</p>
<p>Storm faces multiple charges, including money <a href="https://thenewscrypto.com/nigerian-court-advances-binance-money-laundering-case-to-september/" target="_blank" rel="noopener noreferrer nofollow">laundering</a>, sanctions violations, and operating an unlicensed money transmission business. If convicted on all counts, he could face up to 45 years in prison. Meanwhile, his co-founder, Roman Semenov, remains a fugitive, while another Tornado Cash developer, <a href="https://x.com/alex_pertsev" target="_blank" rel="noopener noreferrer nofollow">Alexey Pertsev</a>, was convicted earlier this year in a Dutch court.</p>
<p>The court will begin the trial on December 2, 2024. Legal experts and developers closely watch the case, as it could have significant implications for the broader cryptocurrency industry. Critics argue that holding developers accountable for their software’s use could stifle innovation, especially in the decentralized finance (<a href="https://thenewscrypto.com/defi-protocol-deltaprime-hacker-moves-50-of-stolen-funds-to-tornado-cash/" target="_blank" rel="noopener noreferrer nofollow">DeFi</a>) space.</p>
<p>Storm’s case highlights the ongoing tension between creating privacy tools and complying with regulatory oversight. Ultimately, the upcoming trial will focus on Tornado Cash’s role in laundering proceeds from cybercrime and sanctions violations.</p>
<p><strong>Highlighted Crypto News Today <br></strong><a href="https://thenewscrypto.com/2m-bedrock-exploit-adds-to-defi-growing-list-of-cyberattacks/" target="_blank" rel="noopener noreferrer nofollow">$2M Bedrock Exploit Adds to DeFi Growing List of Cyberattacks</a><strong>&nbsp;</strong></p>

Tornado Cash’s Roman Storm to Face Trial After Dismissal Denied

Table of Contents

TheNewsCrypto

Autres articles publiés le 27 sept. 2024

Bolt opens new driver engagement centre in South Africa amid increasing driver agitation

CYBRO Nears $3 Million Presale Milestone With ETH Whale Interest with 1200% Gains Ahead

ARB vs. FTM vs RBLK: Could Rollblock’s GambleFi Features Be the Game Changer in 2024/25?

Solana Memecoin Pepe Warrior (PEPEWAR) to Surge 18,000% Ahead of Exchange Listing, While Shiba In...

Massive Data Breach in France Exposes 95 Million Records

Crypto hacks rise to $2.1B in 2024

Join our free newsletter for daily crypto updates!