Tornado Cash Developer Gets 64 Months for $2B Crypto Laundering Scheme

May 16, 2024
Tornado Cash Developer Gets 64 Months for $2B Crypto Laundering Scheme
  • Alexey Pertsev sentenced to 64 months in prison for Tornado Cash's role in laundering over $2 billion in cryptocurrency.

  • The court convicted him for insufficient measures to prevent money laundering and for non-cooperation with authorities.

  • Tornado Cash was sanctioned by the U.S. Treasury Department's OFAC in 2022.

  • Lazarus Group, a North Korean cybercrime syndicate, used Tornado Cash to launder $7 billion from criminal activities.

  • The case highlights impending challenges in cryptocurrency regulation and the uncertain future of Tornado Cash.

  • Co-developer Roman Storm faces upcoming legal proceedings in the United States.

Summary based on 7 sources


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