Tornado Cash founder Alexei Pertsev sentenced to 5 years and 4 months in prison for money laundering of over 180 billion yen
Alexei Pertsev, founder of Tornado Cash, a cryptocurrency mixing service that mixes multiple cryptocurrency transaction data to increase anonymity, was found guilty of money laundering by the Dutch court of 's-Hertogenbosch and sentenced to five years and four months in prison.
Alexey Pertsev Guilty: Tornado Cash Developer Given 64 Months | CCN.com
Tornado Cash dev Alexey Pertsev gets 5 years prison time for money laundering
Tornado Cash co-founder convicted of laundering $1.2 billion by Dutch court
https://therecord.media/tornado-cash-money-laundering-verdict-netherlands-alexey-pertsev
Tornado Cash is a decentralized mixing service that runs on the Ethereum network. It is said to be a 'privacy service,' but in reality it is used by North Korea for money laundering and has been designated as a target for sanctions by the Ministry of Finance.
US Treasury Department sanctions virtual currency mixing service 'Tornado Cash' for involvement in North Korean money laundering - GIGAZINE
According to prosecutors, the founder, Pertsev, is suspected of laundering $1.2 billion (approximately 186 billion yen) in the Netherlands, Russia, the United States, and Dubai from 2019 to 2022. The defendant was arrested and detained in August 2022 and released in April 2023.
'There are two things I don't understand,' Pertsev said during the trial. 'One, I have to take responsibility for the Tornado Cash fraud. The other, I don't know how much I'm going to be sentenced. I don't think that helps me or anyone else, the victims.'
The judge found that Tornado Cash was responsible for the concealment and disguise of virtual currency, and deemed that Tornado Cash was 'not merely a tool for users' and 'suitable for criminal use.'
In the United States, Tornado Cash co-developers Roman Storm and Roman Semenov are being sued, and it has been pointed out that this ruling may affect Storm's trial, which begins in September 2024. Semenov is currently on the run.
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