Cryptocurrency mixers such as Tornado Cash and ChipMixer have been utilized by hackers and scammers for this purpose, leading to an increase in money laundering activities. The closure of the Tornado Cash platform played a role in curbing such activities.
The government also took stern action against Tornado Cash by arresting its developer, Alexey Pertsev, in August 2022. Pertsev had spent around nine good months of his life in prison. Now, according to the latest reports, Pertsev will walk free on April 26.
Tornado Cash developer to walk free on his birthday
A Dutch court has revealed that Pertsev will be set free on April 26, which also happens to be his birthday. Nevertheless, the developer still faces charges and has not been fully acquitted. During this time, he would be required to wear an ankle monitor while under surveillance.
Eléonore Blanc, the founder of the Amsterdam-based educational group CryptoCanal, told Decrypt, “Today, Alex fought for his own personal freedom, speaking for himself, defending his stance as a crypto builder.”
Pertsev was detained under suspicion of facilitating money laundering by using the cryptocurrency mixer. He has been in custody without trial since then. Prior to that, the U.S. authorities imposed sanctions on Tornado Cash, alleging its involvement with North Korean state hackers Lazarus Group and its assistance with laundering up to $7 billion since 2019.
Even though the cryptocurrency mixer was developed with the intention of helping users maintain their anonymity, it has also been used by bad actors to launder stolen funds.