The developer of the crypto mixing protocol Tornado Cash is now preparing for his appeal while behind bars.
Alex Pertsev is in jail after being found guilty of money laundering by The Netherlands’ Oost-Brabant district court which sentenced him to 64 months of prison time in May.
[adinserter block="1"]Pertsev was convicted due to his involvement in the creation of Tornado Cash, which helps users conceal their crypto transactions through obfuscation.
In a statement on the social media platform X, Pertsev says the court is keeping him detained while he prepares to appeal his case. He says the court’s decision will derail his ability to challenge the initial conviction.
“I am sad to announce that, despite our best efforts, the court decided to prolong my pre-trial detention. This decision significantly complicates my ability to prepare for the appeal, but I remain determined to continue fighting for justice.”
The Treasury Department’s Office of Foreign Assets Control (OFAC) imposed a sanction on Tornado Cash in 2022 for helping launder more than $7 billion worth of crypto assets, including those from the North Korean government-linked hackers, the Lazarus Group.
Earlier this month, Congressman Brad Sherman (D-California) and six other members of the U.S. House of Representatives wrote to Treasury Secretary Janet Yellen in opposition to Tornado Cash still being online and functioning despite the sanctions.
Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/JLStock
