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Crypto community backs Tornado Cash devs with $2.3M legal fund

Tornado Cash’s founders and developers are in the legal crosshairs, but the crypto community argues merely writing code shouldn’t be a crime.

The crypto community has rallied behind the developers of former crypto mixing service Tornado Cash, who have been charged with money laundering, sanctions violations and operating an unlicensed money-transmitting business — with one already having been convicted and sentenced to jail.

Following the arrests of Tornado Cash co-founder Roman Storm and developer Alexey Pertsev, the crypto community came together to establish JusticeDAO, an advocacy group that aims to raise money for the arrested individuals’ legal defense.

The group has raised over 654 Ether (ETH), worth $2.3 million at publishing time, through a fundraiser called “Free Alexey & Roman” on the decentralized platform Juicebox. The fund also raised 70 ETH via the JusticeDAO page.

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Orbit Hacker Sends $32,000,000 Worth of Ethereum (ETH) to Tornado Cash: On-Chain Data

Orbit Hacker Sends ,000,000 Worth of Ethereum (ETH) to Tornado Cash: On-Chain Data

The hacker who attacked the decentralized cross-chain protocol Orbit Bridge in December is beginning to move the stolen crypto. The digital asset de-anonymizing platform Arkham notes that the hacker moved 8,671 Ethereum (ETH) worth $32 million to a new address and is in the process of depositing the crypto stack into Tornado Cash, a controversial […]

The post Orbit Hacker Sends $32,000,000 Worth of Ethereum (ETH) to Tornado Cash: On-Chain Data appeared first on The Daily Hodl.

South Korean researcher sees risks with spot crypto ETFs

Vitalik Buterin Donates 30 Ethereum (ETH) to Tornado Cash Developers’ Legal Fund: On-Chain Data

Vitalik Buterin Donates 30 Ethereum (ETH) to Tornado Cash Developers’ Legal Fund: On-Chain Data

Ethereum (ETH) co-founder Vitalik Buterin just gave a substantial amount to support the legal battle of Tornado Cash developers Alexey Pertsev and Roman Storm. Data from Ethereum blockchain explorer Etherscan shows that Buterin transferred 30 ETH worth $113,678 to the “Free Alexey & Roman” legal fund on May 30th. Tornado Cash is an Ethereum-based coin […]

The post Vitalik Buterin Donates 30 Ethereum (ETH) to Tornado Cash Developers’ Legal Fund: On-Chain Data appeared first on The Daily Hodl.

South Korean researcher sees risks with spot crypto ETFs

Tornado Cash sentence ‘radically unfair and unreasonable’ — Nym CEO

CEO Harry Halpin pointed to history and used Nazi Germany as an example of why digital privacy must be protected in the 21st century.

Harry Halpin, the CEO of Nym, a privacy-focused project, recently shared his thoughts on the sentence handed down to Tornado Cash developer Alexey Pertsev.

During an interview with Cointelegraph's Jonathan DeYoung at Consensus 2024, Halpin characterized the sentence as "radically unfair and unreasonable" and provided these analogies:

The Nym CEO then pointed to WWII-era history as a prime example of why privacy must be protected in the 21st Century. Halpin explained that during the Second World War, the Netherlands saw most of its Jewish population exterminated by the Nazis due to sophisticated identity tracing systems not present in other European countries like France.

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South Korean researcher sees risks with spot crypto ETFs

Early Crypto Adopter: Unmatched Privacy of ZK Proofs Outweighs the Technology’s Perceived Disadvantages

Early Crypto Adopter: Unmatched Privacy of ZK Proofs Outweighs the Technology’s Perceived DisadvantagesAlthough zero-knowledge (ZK) proofs are often considered complex to set up, Iva Wisher, co-founder of the Layer two platform Prom, argues that the technology’s unparalleled privacy, faster transaction finality, and overall efficiency outweigh any developmental complexity. Wisher, an early adopter of cryptocurrency, acknowledges that the industry is currently working to address usability concerns associated with […]

South Korean researcher sees risks with spot crypto ETFs

Freedom of speech isn’t a ‘trump card’ for Tornado Cash developers

Does code as freedom of speech mean that developers aren’t responsible for how their creations are used?

Crypto industry advocates are locked in a debate with regulators over whether a protocol’s code constitutes free speech, and what that means for liability. 

Lawmakers have long accused the crypto industry of facilitating illicit activities, from money laundering to financing terrorism. This has led to several court cases, arrests and even incarcerations.

Recent high-profile examples include the arrests of developers who worked on crypto mixers Tornado Cash and Samurai Wallet, as well as the United States Securities and Exchange Commission’s (SECs) planned enforcement action against decentralized exchange Uniswap.

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South Korean researcher sees risks with spot crypto ETFs

Tornado Cash verdict has chilling implications for crypto industry

The conviction of Tornado Cash developer Alexey Pertsev reinforces a very broad interpretation of criminal liability, which has major repercussions for blockchain.

The conviction of Alexey Pertsev, a developer of coin-mixing protocol Tornado Cash, comes from a chilling interpretation of criminal liability likely to have wider ramifications for crypto.

The Dutch court’s guilty verdict means Pertsev must now serve a sentence of five years and four months for money laundering through Tornado Cash. This is despite the fact that Pertsev had no direct involvement in the laundering itself.

Andrew Balthazor, a litigator with the legal firm Holland and Knight, spoke with Cointelegraph to explain the implications of the verdict.

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South Korean researcher sees risks with spot crypto ETFs

UN Experts Say North Korea Laundered $147,500,000 in Stolen Crypto via Tornado Cash in March: Report

UN Experts Say North Korea Laundered 7,500,000 in Stolen Crypto via Tornado Cash in March: Report

Members of a United Nations expert panel monitoring North Korea sanctions reportedly found a link between the totalitarian state and the crypto mixer Tornado Cash. According to Reuters, a confidential document from the monitors told the U.N. Security Council sanctions committee that North Korea used Tornado Cash to launder $147.5 million worth of stolen crypto […]

The post UN Experts Say North Korea Laundered $147,500,000 in Stolen Crypto via Tornado Cash in March: Report appeared first on The Daily Hodl.

South Korean researcher sees risks with spot crypto ETFs

Tornado Cash Developer Alexey Pertsev Sentenced to Five Years and Four Months in Prison by Dutch Court

Tornado Cash Developer Alexey Pertsev Sentenced to Five Years and Four Months in Prison by Dutch Court

Tornado Cash developer Alexey Pertsev has been sentenced to 64 months in jail for laundering billions of dollars, according to a new Dutch court press release. The Netherlands’ Oost-Brabant district court handed down the sentence Tuesday for his involvement in creating the Ethereum (ETH)-based coin mixing system that helps users obfuscate their digital assets. Says […]

The post Tornado Cash Developer Alexey Pertsev Sentenced to Five Years and Four Months in Prison by Dutch Court appeared first on The Daily Hodl.

South Korean researcher sees risks with spot crypto ETFs

Tornado Cash Developer Alexey Pertsev Sentenced to 64 Months for Money Laundering

Tornado Cash Developer Alexey Pertsev Sentenced to 64 Months for Money LaunderingA Dutch court has sentenced Tornado Cash developer Alexey Pertsev to five years and four months in prison for laundering $2.2 billion through the cryptocurrency mixing service. The case represents a pivotal moment for decentralized finance (defi) regulation and crypto privacy. Dutch Court Imprisons Tornado Cash Developer for $2.2 Billion Money Laundering via Crypto Mixing […]

South Korean researcher sees risks with spot crypto ETFs