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BREAKING: Tornado cash developer found guilty of $1.2 billion money laundering

By:
on May 14, 2024
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  • A Dutch court has found Tornado Cash developer Alexey Pertsev guilty.
  • Pertsev was charged for money laundering following his arrest in 2022.
  • Crypto community has reacted to the news, with Pertsev sentenced to 64 months in prison.

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Tornado cash developer Alexey Pertsev is guilty, a panel of Judges has found.

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The verdict is that Pertsev helped launder a staggering $1.2 billion via the crypto mixing protocol he helped develop and launch in 2019.

Pertsev has been sentenced to 64 months in prison.

With the guilty verdict and sentencing, the Dutch court has likely opened a path to similar other decisions in cases facing developers in the broader decentralised finance (DeFi) and privacy coin ecosystem.

As Invezz highlighted earlier, the Russian national was arrested in 2022 in the Netherlands.

Read more: Tornado Cash dev Alexey Pertsev’s court verdict is today: Here’s what we know

TORN price has dipped 4% in the past 24 hours to $2.81 at the time of writing.

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