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Home»ALTCOIN NEWS»Tornado Cash developer seeks support ahead of trial that could set ‘major precedent’ for cryptocurrencies
ALTCOIN NEWS

Tornado Cash developer seeks support ahead of trial that could set ‘major precedent’ for cryptocurrencies

By Crypto FlexsJanuary 23, 20243 Mins Read
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Tornado Cash developer seeks support ahead of trial that could set ‘major precedent’ for cryptocurrencies
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One of the founders of approved cryptocurrency mixer Tornado Cash (TORN) is seeking financial help ahead of his criminal trial in the United States.

Roman Storm was arrested and indicted by the U.S. Department of Justice (DOJ) last year on charges of laundering $1 billion in criminal proceeds.

new video “I’m honestly scared,” Storm wrote in a post on social media platform X, asking for donations to help fund his legal defense.

He warned that the outcome of the trial would have significant implications for the future of digital assets.

“Hello, my name is Roman Storm. I am a passionate software developer. And four years ago, I helped develop Tornado Cash, an open source non-custodial privacy protocol. A few months ago, despite my continued cooperation with U.S. authorities, heavily armed FBI agents raided my home at 6 a.m. and arrested me in front of my three-year-old daughter. My legal team and I plan to respond strongly.g Please defend not only my family but also future software developers and my financial privacy at trial.

Guys, we need your help. Whether you’re a passionate developer working on web3 like me, or someone who only cares about software and privacy, this legal fight will affect you. So please help me with my legal defense. Because this case will set an important precedent for years to come. JusticeDAO (Decentralized Autonomous Organization) has put together a variety of options for donating. Would you like to support this cause? Every contribution counts. thank you.”

Tornado Cash is an Ethereum (ETH)-based coin mixing system that helps users hide their digital assets. TORN is the 1421st cryptocurrency by market capitalization. The project was approved by the United States in 2022 for national security purposes.

Last year, Storm, along with Roman Semenov, another Tornado Cash founder, were indicted by the DOJ on charges of helping North Korean hacking group Lazarus launder money.

In August 2022, Tornado Cash’s third co-founder, Alexey Pertsev, was arrested in the Netherlands on money laundering charges.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you are responsible for any losses that may occur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

Featured Image: Shutterstock/ALMAGAMI

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