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Vitalik Buterin Sends 30 ETH to Support Tornado Cash Developers
Last Updated: May 30, 2024
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Key Takeaways
- Vitalik Buterin’s wallet donated 30 ETH to a fund supporting Tornado Cash developers;
- Tornado Cash was sanctioned by the US Treasury in August 2022, leading to the arrest of its founders, one of whom, Alexey Pertsev, has recently been sentenced to over five years;
- The crypto community argues that targeting privacy tool developers is unjust and harmful to innovation.
A wallet linked to Vitalik Buterin, Ethereum's co-founder, transferred 30 Ether (ETH) (nearly $112,000) to the crowdfunding platform Juicebox, aiming to help the legal defense of Tornado Cash developers Alexey Pertsev and Roman Storm.
At the time of writing, the fund has amassed over 592 ETH, valued at over $2.2 million.
Buterin's involvement is unsurprising due to his long-standing advocacy and numerous publications on enhancing privacy in the cryptocurrency space.
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Tornado Cash is a crypto mixer built on Ethereum that enables users to make anonymous transactions. Despite its legitimate uses, criminals have exploited the tool to launder stolen funds, drawing the scrutiny of law enforcement agencies.
In August 2022, the US Treasury's Office of Foreign Assets Control (OFAC) sanctioned Tornado Cash, which led to the arrest of its founders and developers on charges of violating Anti-Money Laundering regulations.
Following these events, Dutch authorities sentenced Alexey Pertsev to five years in prison. Roman Storm is scheduled for trial in the US in September, while the third co-founder, Roman Semenov, remains at large.
The crackdown on privacy-focused crypto tools has ignited industry debate, with the community opposing the prosecution of developers like Pertsev for writing privacy code. They argue that privacy tools are essential for industry growth and that targeting developers undermines innovation and freedom.
Such support for Pertsev highlights the crypto community's commitment to defending privacy and backing those who create privacy-enhancing tools.
In related news, a confidential UN report has recently disclosed that North Korean entities linked to the Lazarus Group used Tornado Cash to launder $147.5 million in stolen funds.
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