Altcoin

Tornado Cash Developer Alexey Pertsev Set To Be Released; TORN Price Skyrockets

Published

5 hours ago

February 6, 2025

Tornado Cash developer Alexey Pertsev is expected to be released from prison on February 7, 2025. Pertsev will be released free this Friday with the condition of electronic monitoring. Coinciding with his potential release, the TORN price has witnessed a remarkable rebound, surging by more than 15%.

While Pertsev considers it an opportunity to fight for justice in the money laundering case related to Tornado Cash, the community celebrates his return.

Tornado Cash Developer To Be Released on Friday

In a recent X post, Tornado Cash developer Alexey Pertsev, who has been imprisoned since May 2024, revealed his potential release. According to his revelation, Pertsev will be released from pretrial detention on February 7, 2025, and will be placed under electronic monitoring.

Though Alexey Pertsev considers it a partial freedom, he deems it better than the prison sentence. He stated,

Today, a Dutch court suspended my pretrial detention under the condition of electronic monitoring. This will give me a chance to work on my appeal and fight for justice. Thank you to everyone who supported me and who made this possible!

This development comes after Tornado Cash co-founder Roman Storm recently addressed the charges against him, expressing concerns about the case’s wider implications on software developers and technology industry.

Ethereum Founder Supports Alexey Pertsev

In response to the Tornado Cash developer’s message, Ethereum founder Vitalik Buterin shared a post, citing “Milady.” Buterin has been sharing Milady avatar over the last few weeks, highlighting the community’s supportive nature.

Milady https://t.co/sH9jFIBrwz
— vitalik.eth (@VitalikButerin) February 6, 2025

Buterin’s response to Alexey Pertsev could imply his support for the developer and the Tornado Cash ecosystem. This implication is reinforced by Buterin’s past backing of Pertsev and his commitment to advocating for his release.

Protocol Developer’s Five-Year Prison Sentence

Previously, in 2022, the Tornado Cash developer was detained for charges of money laundering related to the crypto tumbler. Later, the Dutch court found him guilty of failing to prevent illicit use of the Tornado Cash mixer. In May 2024, Pertsev was handed a five-year prison term in the Netherlands.

Following a US federal appeals court ruling in November that sanctions on Tornado Cash were unlawful, Pertsev launched an appeal against his conviction. Although his initial appeal was unsuccessful, Pertsev continued to appeal for his freedom. With his release, he will continue to fight for justice.

Tornado Cash Developer’s Release Fuels TORN Surge

Triggered by the imminent release of Alexey Pertsev, TORN, the native governance token of Tornado Cash has seen impressive upticks. Currently trading at $12.97, the TORN price has gained a notable 15.5% in a single day.

Despite a weekly dip of 6.9%, the token has seen a staggering hike of 43.5% over the past month. While the court recently overturned the US Treasury Department’s Office of Foreign Assets Control (OFAC) sanctions against the platform, the token jumped by more than 130%. Fueled by Pertsev’s release, analysts and experts believe the token’s steady climb signals its potential increase to around $15.

Interestingly, the community is celebrating Pertsev’s release which is evident from the TORN token’s increasing activity. Over the past 24 hours, the token has exhibited a 189% increase in its trading volume, currently at $619.81K.