📢Big news! Tornado Cash co-founder regains temporary freedom
On February 7, Alex Pertsev, co-founder of the cryptocurrency mixer Tornado Cash, is finally getting out of jail for now! The Dutch court decided to suspend his pre-trial detention and put him under electronic monitoring while preparing for his appeal.
He said in the post: "Friends, I will be free tomorrow! Although it is not complete freedom, it is better than jail... Thank you to everyone who supports me!"
As soon as the news came out, the price of Tornado Cash's token TORN soared by nearly 40%. Although it has fallen slightly now, it is still oscillating in the ascending triangle area!
Recall that Pertsev was arrested by Dutch authorities in August 2022, when he was accused of helping to launder money. But Pertsev has always insisted that privacy tools should not be equated with money laundering, and developers should not be responsible for how the software is used.
Last November, the Fifth Circuit Court of Appeals also ordered the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) to remove Tornado Cash’s related addresses from the blacklist, which is undoubtedly a huge victory for Pertsev and another developer, Roman Storm!
The court finally ruled that smart contracts are autonomous and cannot be owned, controlled or changed, so the autonomous operation of applications such as Tornado Cash should not be restricted before the legislation is updated.
However, the matter has not yet been settled. We will continue to track the latest developments and keep you updated on the latest news of this case!
💬What do you think of the development of this incident? Does this mark a small victory for cryptocurrency privacy? Leave a message in the comment area to discuss!