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Vitalik Buterin Throws Third ETH Donation to Back Tornado Cash

Vitalik Buterin Throws Third ETH Donation to Back Tornado Cash

DailycoinDailycoin2024/10/07 18:21
By:Dailycoin
  • Ethereum co-founder Vitalik Buterin continues to extend support to Tornado Cash developers.
  • Buterin has criticized the crackdown on the crypto mixer.
  • One of Tornado Cash’s developers is currently serving jail time.

The developers of the infamous crypto mixer Tornado Cash have been locked in a tense standoff with authorities for years, centered around allegations of facilitating illegal financial activities. Efforts to bring the legal battle to an end have hit multiple deadlocks, leading to the imprisonment of one while another remains entangled in a drawn-out legal tussle.

However, industry support for the mixer’s creators remains strong despite the weight of their charges. 

Vitalik Lends More Support to Tornado Cash Developer

Ethereum co-founder Vitalik Buterin has once again stepped up to financially support Tornado Cash co-developer Roman Storm’s legal defense fund. On October 4, 2024, the ‘Free Pertsev & Storm’ crowdfunding page announced that Buterin donated 100 ETH worth approximately $240,000 at current prices.

Sponsored

The donation marks Buterin’s third contribution to Storm’s defense fund, having previously donated 30 ETH earlier in March. Renowned for his strong privacy advocacy, Buterin has consistently criticized the legal actions against Tornado Cash’s founders, describing them as an attack on industry privacy.

Thank you @VitalikButerin for donating another 100 ETH to Roman Storm's legal aid on Juicebox 🫡

This is the third time Vitalik has donated to the campaign and we are extremely grateful for his support. pic.twitter.com/ehgvtadOXu

— Free Pertsev & Storm (@FreeAlexeyRoman) October 5, 2024

Commenting on the donation, Storm expressed deep gratitude for the Ethereum co-founder’s generosity. 

“I can't describe how much it means to me. Thank you for your long lasting support,” he stated . 

Roman Storm’s support fund has accumulated 327 ETH so far, valued at approximately $785,000. It was likely largely boosted by his partner’s recent sentencing.

Tornado Cash Co-Founder Behind Bars

In August 2024, a Dutch court found Alexey Pertsev, the co-founder of the crypto mixing tool, guilty of facilitating money laundering, handing him a 64-month prison sentence . 

The sentencing marked the culmination of the years-long legal process, with the court ruling that Pertsev’s failure to implement measures to prevent misuse of the protocol, despite being aware of its exploitation by criminals, made him liable for the abuse.

However, the convicted co-founder has initiated efforts to overturn his fate. Shortly after his sentencing, the support account for Pertsev appealed for donations, emphasizing the urgent need for approximately $750,000 to $1 million in legal fees to bolster his appeal.

Buterin has also condemned Pertsev’s five-year sentence as unfortunate, stating, “It’s definitely really, really sad, and I hope that with Roman’s trial in the U.S., we get some positive clarity there.”

On the Flipside

  • Roman Storm recently filed a motion to postpone his trial to January or February 2025.
  • Crypto exchange OKX has threatened account liquidation for users interacting with Tornado Cash.
  • The legal actions against Tornado Cash have also extended to other crypto mixers. In April 2024, The DoJ arrested Samurai Wallet Founders on similar charges of money laundering and US laws violations.

Why This Matters

Vitalik Buterin’s ongoing support for Tornado Cash offers significant backing to the embattled developers, and his latest contribution provides a major financial boost for their ongoing legal battle.

Read this article to learn about the continued use of Tornado Cash by malicious actors despite the ongoing legal troubles:
Orbit Chain Hacker Goes Online, Moves $48M Through Tornado Cash

The renewed buzz over Satoshi Nakamoto’s identity has prompted fresh predictions across the industry; find out more here:
Here’s Who the Industry Is Betting HBO Will Name as Satoshi

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Tornado Cash co-founder’s money laundering trial postponed to April 2025

Share link:In this post: On November 1, Judge Katherine Polk Failla rescheduled the next Storm’s trial to April 14, 2025. Storm’s defense has challenged the court’s trial postponement, going as far as filing a mandamus petition with the U.S. Court of Appeals for the Second Circuit. Roman Storm is charged with three counts: conspiracy to commit money laundering, conspiracy to commit sanctions violations, and conspiracy to operate an unlicensed money-transmitting business.

Cryptopolitan2024/11/02 15:22