Maker

Tornado Cash

Tornado

Alexey Pertsev, the developer of crypto privacy mixer Tornado Cash, will be released from jail next week and await trial at home, according to a report from Blockworks. 
<ul>
<li style="font-weight: 400">The news reportedly comes from Eléonore Blanc, Pertsev’s wife, who claimed over Telegram that the developer would be coming home next week. </li>
<li style="font-weight: 400">Pertsev was <a href="https://cryptopotato.com/tornado-cash-developer-is-arrested-in-amsterdam/" data-wpel-link="internal">arrested</a> in Amsterdam in August 2022 shortly after the Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned Tornado Cash, creating unprecedented restrictions against the development and use of smart contract code. </li>
<li style="font-weight: 400">The developer was later <a href="https://cryptopotato.com/tornado-cash-developer-denied-bail-will-remain-in-prison-for-extra-90-days-report/" data-wpel-link="internal">denied bail</a> and forced to remain imprisoned for months, despite no formal charges being laid at the time. However, Pertsev was found to have worked at a Russian firm called Digital Security, which had been flagged for providing support to the nation’s FSB. </li>
<li style="font-weight: 400">Pertsev’s arrest sparked outrage across the cryptocurrency space for what appeared to be the overly harsh treatment of someone who had merely developed software. </li>
<li style="font-weight: 400">Others including Circle CEO Jeremy Allaire were concerned about the precedent established by the Treasury Department in blocking the functioning of open-source software.</li>
<li style="font-weight: 400"> “It raises extraordinary questions about privacy and security on the internet and the future of public internet digital currency,” he <a href="https://cryptopotato.com/circle-ceo-talks-tornado-cash-sanctions-and-the-fight-for-privacy/" data-wpel-link="internal">said</a> in August. </li>
<li style="font-weight: 400">Despite the sanctions, Tornado Cash is still technically accessible and continues to <a href="https://cryptopotato.com/heres-why-tornado-cashs-activity-didnt-cease-completely-post-ofac-sanctions/" data-wpel-link="internal">generate volume</a>. Earlier this month, over $600,000 in stablecoins from the 2021 Maker DAO hack were <a href="https://cryptopotato.com/stablecoins-worth-600k-from-2021-dao-maker-hack-sent-via-tornado-cash/" data-wpel-link="internal">sent</a> through the protocol. </li>
</ul>
The post <a href="https://cryptopotato.com/tornado-cash-developer-will-finally-be-released-from-jail-report/" rel="nofollow">Tornado Cash Developer Will Finally Be Released From Jail: Report</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

Tornado Cash Developer Will Finally Be Released From Jail: Report

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