Tornado Cash Developer Convicted for Money Laundering by Dutch Court

By: Eva Baxter

A developer associated with Ethereum-based application, Tornado Cash, has been found guilty by a Dutch court for laundering approximately $1.2 billion in cryptocurrency. Alexey Pertsev, who was behind the development of this crypto mixer platform, was convicted and is set to face imprisonment.

The specifics of the conviction reveal that Pertsev had been manipulating the platform to channel large amounts of money illegally. The court has adjudged him guilty for these charges and pronounced a sentence of 64 months in prison.

This case brings to light the potential misuse of such platforms and calls for more reviews into their operation. It also underlines the need for increased observance of legal norms within the crypto space.