• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Roman Storm to Face Trial on Charges of Money Laundering and Sanctions Evasion

user avatar

by Giorgi Kostiuk

a year ago


Roman Storm, co-founder of the crypto mixer Tornado Cash, is poised for trial after the court denied his request to dismiss allegations regarding his role in the platform.

The Court Insists on Charges

Storm was arrested in Auburn, Washington, and subsequently released on a $2 million bail. His defense team aims to argue for a dismissal of the charges by claiming Storm had no direct role in how the platform was utilized. They contend that Tornado Cash is self-operating software, and Storm lost control after its deployment on the Ethereum blockchain in 2019. However, Judge Katherine Polk Failla ruled that control is not a necessary condition to prove guilt.

The Crypto Community Reacts

The crypto community has responded strongly to the recent ruling. Amanda Tuminelli, legal head of the DeFi Education Fund, argued that developers should not be held responsible for illegal activities committed by third parties misusing open-source software. Notable crypto lawyer Jake Chervinsky criticized the decision, stating, 'This ruling is an attack on the freedom of software developers.'

Challenges of Tornado Cash

The trial date of December 2 is seen as a critical moment regarding the legal treatment of open-source developers in the crypto industry. Tornado Cash, designed to enhance privacy in cryptocurrency transactions, has become controversial due to allegations of its use by hackers associated with North Korea’s Lazarus Group. The platform faced sanctions from the U.S. Treasury Department in October 2022, resulting in a 68% drop in total entries by January 2023.

The U.S. Department of Justice claims Tornado Cash received around $1 million in investments from a venture capital firm, using those funds with expectations of sharing profits. Storm’s ongoing case is set to begin in New York in December, with evidence suggesting that the platform’s co-founders extracted millions in cash from TORN assets, indicating Tornado Cash did not operate purely altruistically. The case is poised to ignite significant discussions regarding the legal responsibilities of open-source software.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Crypto Whale Lost $206K after a Hasty Sale of 5,171 ETH

chest

A crypto whale realized significant losses after selling 5,171 ETH bought just two days earlier due to FOMO.

user avatarGiorgi Kostiuk

Tim Draper on Bitcoin: Companies Should Embrace Digital Currency, Price Expected to Reach $250K

chest

Billionaire Tim Draper insists that companies should hold Bitcoin and predicts its value reaching $250,000 by 2025.

user avatarGiorgi Kostiuk

How Arctic Pablo Coin and Other Projects Influence Cryptocurrency Choices

chest

Overview of Arctic Pablo Coin presale and analysis of Solana and Cronos as leading cryptocurrencies to buy.

user avatarGiorgi Kostiuk

Trump-Backed WLFI Token Shows Market Stabilization with Buyback Proposal

chest

WLFI token demonstrates successful stabilization due to the buyback and burn initiative, supported by 99% of the community.

user avatarGiorgi Kostiuk

Baby Dogecoin and Arctic Pablo Coin: Opportunities in the Cryptocurrency Market

chest

The article analyzes the successes of Baby Dogecoin and the prospects of Arctic Pablo Coin in the context of the cryptocurrency market.

user avatarGiorgi Kostiuk

New UK Stablecoin Regulations Could Significantly Impact Crypto Landscape

chest

Bank of England proposes restrictions on stablecoin ownership, potentially affecting the DeFi market in the UK.

user avatarGiorgi Kostiuk

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.