Wazirx Fast-Tracks INR Withdrawals but Users Face 6-Month Crypto Trading Delay

September 4, 2024 Bitcoin.com

bitcoin.com

Indian crypto exchange Wazirx has accelerated Phase 2 of INR withdrawals after a cyberattack on July 18. Initially scheduled for Sept. 9, eligible users can now withdraw up to 66% of their INR balances. However, crypto trading on the platform will not resume for another six months. Wazirx Expedites INR Withdrawals Amid Post-Hack Restructuring Efforts […]

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Tornado Cash dev Alexey Pertsev seeks more funding for legal appeal

August 11, 2024 Coin Telegraph

Alexey Pertsev

Pertsev’s case is a pivotal moment for the crypto community and advocates of digital privacy.

The legal battle surrounding Tornado Cash developer Alexey Pertsev has reached a critical juncture as he seeks additional funding to continue his fight for privacy rights and the freedom to publish code.

According to the support account for Pertsev and Roman Storm, Pertsev, who was arrested two years ago and is embroiled in a high-stakes legal dispute, is now facing an uphill battle against government forces equipped with vast resources dedicated to his prosecution.

The support account highlighted the dire financial situation, noting that Pertsev has exhausted his funds. “It’s time to take a stand with Alexey and fight for what’s right,” the account stated, emphasizing the urgent need for between $750,000 and $1 million to cover ongoing legal expenses.

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Okx Says Accounts Interacting With Tornado Cash Will Be Closed

August 10, 2024 Bitcoin.com

bitcoin.com

According to the CEO of the cryptocurrency exchange Okx, users are now barred from account interacting with Tornado Cash and Garantex. In a post on social media, the CEO said any Okx accounts receiving deposits from sanctioned entities, including Garantex and Tornado Cash, will trigger compliance risk control, ultimately leading to account closure. Similarly, any […]

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New York Federal Reserve Staff Paper on Tornado Cash Concludes Ethereum Is ‘Not Immune to Censorship and Cooperation’

August 9, 2024 Bitcoin.com

bitcoin.com

A staff report published by several New York Federal Reserve employees found that Ethereum “is not immune to censorship and cooperation,” which depends on the roles of several actors across the network. The paper examined how the network performed after Tornado Cash, one of the main mixers in the blockchain, was sanctioned by the OFAC. […]

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Tornado Cash developer Alexey Pertsev denied bail while awaiting appeal

July 14, 2024 Coin Telegraph

Coin Telegraph

Pertsev will now spend the next year in prison while his lawyers prepare an appeal for money laundering charges.

Alexey Pertsev, the developer behind the OFAC-sanctioned crypto mixer Tornado Cash has been denied bail while his lawyers prepare to submit an appeal for charges of money laundering.

Pertsev’s defense lawyer, Keith Cheng, told DL News the rejection of Pertsev’s bail request came as a surprise, noting that an additional request for Pertsev to gain access to a computer to prepare for his appeal was also denied.

The court said Pertsev's continued detention would not obstruct his ability to prepare his defense, adding that Pertsev's request for computer access went against its safety protocol.

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

June 19, 2024 Coin Telegraph

Crypto community backs Tornado Cash devs with .3M legal fund

Coin Telegraph

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

June 11, 2024 The Daily Hodl

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

Daily Hodl

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.

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

June 2, 2024 The Daily Hodl

Daily Hodl

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.

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

May 30, 2024 Coin Telegraph

Coin Telegraph

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

May 22, 2024 Bitcoin.com

bitcoin.com

Although 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 […]

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