Tornado Cash developer Alexey Pertsev will be released from prison by authorities. He was detained by Dutch authorities in August after the US Treasury Department’s Office of Foreign Assets Control (OFAC) imposed sanctions on the crypto mixing service.
According to sources, the Dutch court has approved some relief for Tornado Cash developer Alexey Pertsev. He will remain under house arrest with an ankle monitor and surveillance starting next week.
Alexey Pertsev has been in pre-trial detention since August and no formal charges have been filed so far. The crypto community is disappointed with the detention of developer Pertsev and even protested against the authorities. Earlier, a panel of Dutch judges refused bail because of flight risk.
The next hearing is scheduled for tomorrow, April 21, and further inquiry is on May 24. Keith Cheng, Alexey Pertsev’s attorney, is trying to challenge prosecutors’ allegations that Pertsev and others ran Tornado like a business rather than just publishing code.
TORN price increases by 20% at Tornado Cash developer release
The price of Tornado Cash (TORN) has skyrocketed more than 20% in the last 24 hours, with the price currently trading at USD 10.45. The 24-hour low and high are $8.48 and $10.88, respectively. In addition, the trading volume has increased by 235% in the past 24 hours, indicating increasing interest among traders.
According to investor sentiment, TORN price could rise to $20 if Tornado Cash developer Alexey Pertsev is released. If exchanges like Coinbase list TORN, the price could be over $50. Coinbase fully supports Tornado Cash developer Alexey Pertsev.
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