Tornado Cash developer Alexei Persev is expected to be released from prison on February 7, 2025. He will be released this Friday, but with electronic monitoring. The announcement sent the price of TORN into a remarkable recovery, surging more than 15.5%. The global community of supporters welcomed his return, while Persev himself saw it as an opportunity to fight for justice regarding money laundering allegations related to Tornado Cash.

In a recent post on his X (formerly Twitter), Percy, who has been incarcerated since May 2024, laid out his expectations for his release, stating that he will be released from pretrial detention on February 7, 2025, and will be monitored electronically. But Alexei commented that while this will only be partial freedom, it will be better than being locked up in prison.

“Today, the Dutch court has suspended my pre-trial detention under electronic monitoring conditions. This will give me the opportunity to work on my appeal and fight for justice. Thank you to everyone who supported and made this release possible!” he said.

The development comes after Tornado Cash co-founder Roman Storm spoke out about the allegations he is facing and expressed concerns about the impact of the case on developers and the tech industry.

Meanwhile , ethereum founder Vitalik Buterin has also shown his support for the Tornado Cash developer, sharing a post on social media, referring to “Milady,” showing the supportive nature of the community.

Percy was previously detained in 2022 on money laundering charges related to the operation of the Tornado Cash cryptocurrency mixer. A Dutch court later found him guilty of contempt and failure to prevent the illegal use of the Tornado Cash mixer, resulting in him being sentenced to five years in prison in the Netherlands.

Although Percy's first appeal was unsuccessful, he remains committed to fighting for justice, and his release gives him the chance to stand up for his future goals.

The price of TORN, the primary token used to manage Tornado Cash, has been boosted by the release of Persev, currently hovering around $13.08 and posting a notable 15.5% increase in a single day. Meanwhile, despite a 6.9% drop over the week, TORN has managed to gain 43.8% over the past month.

The digital asset has recorded remarkable movement after a US court overturned sanctions from the US Treasury Department (OFAC) related to Tornado Cash and sent its price surging by more than 130%. Following the release of Persif, analysts and industry experts believe that the token’s continued growth may have a tendency to reach around $15.

There is no doubt that the support community is celebrating Percy’s return, as evidenced by the surge in TORN’s market activity over the past 24 hours. The trading volume has increased by 189%, with the current value at $619,810. The return of the developer who was charged in this case could inspire the tech industry in the areas of programming and database development, as they fight for justice in a complex legal system. However, this is an important new beginning for the community and the TORN token in the future.

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