Court Rules Release of Tornado Cash Developer But Under House Arrest

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Court Rules Release of Tornado Cash Developer But Under House Arrest
Credit: © Reuters.

  • From next week he will continue to be monitored and under home arrest.
  • A court panel in the Netherlands had previously rejected the bail.

Alexey Pertsev, the creator of Tornado Cash, will be released on certain conditions. After sanctions were placed on the crypto mixing service by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) in August, he was arrested by Dutch police.

The developer of Tornado Cash reportedly received some kind of redress from a Dutch court. From the beginning of next week on, he will continue to be monitored and under home arrest. No official accusations have been brought against Alexey Pertsev, who has been in pre-trial custody since August.

Moreover, the crypto community was outraged by the arrest of developer Pertsev and took to the streets in protest. A court panel in the Netherlands had previously rejected bail, citing a high likelihood of absconding.

TORN Price Rallies

The next court date is on April 21, and further investigation is set for May 24. Keith Cheng, Alexey Pertsev’s attorney, plans to refute the prosecution’s contention that his client and others managed Tornado as a company rather than just releasing code.

The value of Tornado Cash (TORN) has increased by more than 20% in the last day and is now trading at $9.44. The 24-hour low is $8.49, and the 24-hour high is $10.88 as per CMC (NS: CMC ).

Furthermore, in the previous 24 hours, there has been a 406% increase in trading volume, suggesting a rise in interest among investors. Moreover, if Alexey Pertsev, the developer of Tornado Cash, is granted freedom, the price of TORN is expected to soar even higher, according to experts. 

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