- The developer was charged with money laundering of exceptionally large amounts
- The FBI alleges that Tornado Cash has laundered a total of $7 billion
Russian software developer Alexey Pertsev, who has worked on code for privacy mixer Tornado Cash, will be released from jail to await trial from home, a Dutch court ruled, CoinDesk reported.
Pertsev was arrested in August last year on the orders of FIOD, a financial crime authority in the Netherlands. The most recent decision in his case was made by a court in the city of ‘s-Hertogenbosch.
The Dutch prosecutor in the case had argued earlier that Pertsev could pose a flight risk and might conceal evidence if he were released, but raised no specific allegations.
He “habitually processed” large amounts of ether
This week, the developer was charged with money laundering of exceptionally large amounts. According to the prosecution, he habitually processed over 500,000 ETH, which he could have known or at least suspected was of illicit origin. Pertsev has denied all money laundering charges.
As Bankless Times wrote on February 16, Pertsev had been detained for multiple periods spanning 110 days each despite the absence of formal charges. In the Netherlands, authorities are allowed to hold accused persons without pressing charges formally.
The court had rejected three appeals by Pertsev, the latest at the end of last year.
Tornado Cash laundered $7B
The FBI alleges that Tornado Cash laundered a total of $7 billion. This is counting the $455 million stolen by Lazarus Group, who are infamously linked to North Korea.
The open-source mixer lets users pool their crypto funds, advocating privacy and concealing the inflow and outflow of assets. It has also been sanctioned by the US Office of Foreign Assets Control due to the same allegations. This happened shortly before the developer’s arrest.
Pertsev will be released next week, by when electronic monitoring devices will be installed at his home. He will not have to pay any compensation.
