After nine months in prison, Tornado Cash developer Alex Pertsev is set to be released from custody. Detained in August 2022 by Dutch officials, Pertsev was accused of money laundering through the Tornado Cash cryptocurrency mixer. According to reports, his release is scheduled for April 26, coinciding with his birthday.
Despite his upcoming release, Pertsev is far from being cleared of the charges. Facing a suspended release under surveillance, he will remain under watch while awaiting trial from home. An ankle monitor will track his movements during the suspended release period.
In November 2022, a Dutch judge rejected Pertsev’s request for release under surveillance, citing him as a flight risk. His bail request was also denied in February 2022.
The downfall of Tornado Cash
Tornado Cash, a cryptocurrency mixer, gained popularity among users seeking transaction anonymity. As the name implies, mixers combine various cryptocurrencies, rendering users’ transactions untraceable.
This feature has attracted illicit actors in the crypto world, leading to a flood of illegal funds entering the platform. Consequently, Tornado Cash found itself embroiled in a conflict with multiple authorities as it facilitated the laundering of millions of dollars worth of illicit crypto funds.
On August 8, the U.S. Treasury Department added numerous addresses associated with the platform to the OFAC (Office of Foreign Asset Control) sanctions list. Shortly after, Pertsev was apprehended in the Netherlands.