The jail term for Tordano Cash developer Alexey Pertsev has been extended by three months until his next hearing, scheduled for April 21. Until then, Pertsev will continued to be detained by the Dutch police. The Tornado Cash platform was sanctioned by the US Treasury Department last year. At the time, authorities alleged that the platform was being abused to facilitate money laundering through crypto assets for the benefit of cybercriminals.
Under Dutch law, a person can be detained for up to 110 days without being formally charged with a criminal activity.
tornado cash was launched in August 2019. It is a tool that allows anyone to anonymously transfer funds to a destination wallet from a common pool of tokens.
Hackers and thieves steal electronic money typically use Tornado Cash to deposit their stolen tokens into a common crypto token pool and then transfer their stolen funds to a secret wallet. This completely circumvents any trace of the stolen funds that could be traced by investigators.
The FBI suspects that North Korean hackers also used a crypto mixer to take away stolen crypto assets worth $455 million (approximately Rs 3,763 crore).
Cash Tordano has report accused of enabling illegal money laundering worth $7 billion (approximately Rs 57,911). Its arrested developer has had three appeals denied since he was sentenced to prison.
Meanwhile, Pertsev’s prolonged arrest angered some members of the party. web3 community. ONE petition Requests for Pertsev’s release have also been made and more than 5,000 signatures have been obtained.
In January, Web3 builder Chainway launched a new feature called ‘Proof of innocence’, will reward holders of the Tron cryptocurrency if they can prove that their holdings were not stolen. Tron is the native cryptocurrency of Tornado Cash.