Dutch Court Denies Release of Tornado Cash Developer Amidst Legal Battle
- While he gets ready to appeal his conviction, Alexey Pertsev will stay in detention.
- The developer received a sentence of more than five years in jail for money laundering in May.
The developer of the contentious crypto mixer Tornado Cash, Alexey Pertsev, was recently refused release by a court in the Netherlands. The continuing legal issue involving the crypto mixer continues with this new verdict. This was handed out on Friday, July 12.
While he gets ready to appeal his conviction, Alexey Pertsev, who received a sentence of more than five years in jail for money laundering in May, will stay in detention. In the dynamic realm of the crypto sector, the courts ruling highlights the increasing conflicts among blockchain innovation, privacy concerns, and compliance with regulations.
Defense attorneys for Alexey Pertsev suffered a setback. The Dutch Hertogenbosch Court of Appeal denied their bid to free their client. Keith Cheng and Judith de Boer, Pertsevs attorneys, argued that their client did not constitute a flight risk. And emphasized the need for Pertsevs access to the internet so that he could effectively prepare for his forthcoming appeal.
Insufficient Steps to Stop Criminals
Nevertheless, the courts ruling remains unchanged, demonstrating the seriousness with which the Dutch judicial system is handling the issue. A staggering $2.2 billion in stolen and hacked cryptocurrencies was laundered via the Tornado Cash platform. And the 31-year-old Russian citizen was initially sentenced to 64 months in jail for his role in facilitating the transfers on May 14.
The courts agreement with the prosecution that Pertsev and his co-developers did not take sufficient steps to stop criminals. Such as the infamous North Korean hacking group Lazarus. From using the platform to send illegal funds was a key factor in his conviction and the recent denial of release.
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Read more: https://thenewscrypto.com/dutch-court-denies-release-of-tornado-cash-developer-amidst-legal-battle/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
