Tornado Cash Developer Alexey Pertsev Arrested In Amsterdam: 'Multiple Arrests Not Ruled Out' Says Dutch Investigators

A 29-year-old man was detained by Dutch officials in Amsterdam on suspicion of aiding in the concealment of illicit financial flows and the facilitation of money laundering through the cryptocurrency service Tornado Cash. What Happened: One of the service's developers, Alexey Pertsev, was arrested on Aug. 10, according to a statement released on Friday by the Dutch Fiscal Information and Investigating Service (FOID).

Timeline of Torn

Tornado Cash (TORN), a decentralised crypto mixer platform built on top of Ethereum (ETH/USD) has seen its price fall significantly over the past 24 hours following the arrest of Alexey Pertsev, a developer associated with the platform.

Barely two days after the U.S. Treasury Department blacklisted Tornado Cash, Dutch authorities arrested a 29-year-old man suspected of developing the decentralized crypto-mixing service.

On Wednesday, the Netherlands Crime Agency (FIOD) arrested a 29-year-old man in Amsterdam suspected to be the developer of Tornado Cash, which was recently sanctioned by the U.S. Treasury. The post Dutch Cops Arrest 29-Year-Old Suspected Tornado Cash Developer appeared first on BeInCrypto.

Crypto execs said the arrest of a suspected Tornado Cash developer may have ‘huge consequences' for the industry. The post ‘Dangerous' precedent: crypto execs slam arrest of suspected Tornado Cash developer appeared first on The Block.

The Tornado Cash DAO has voted to add its governance to the multisig set of its treasury wallet over arrests and de-platforming fears. The post Tornado Cash DAO votes to take partial control over treasury funds appeared first on The Block.

According to a statement from the Dutch Fiscal Information and Investigation Service (FIOD), law enforcement officials in Amsterdam arrested an unnamed 29-year-old suspected of developing the ethereum mixing application Tornado Cash. FIOD accuses the suspect of “concealing criminal financial flows and facilitating money laundering through the mixing of cryptocurrencies.

Tornado Cash's Discord server has been removed following the imposition of US Treasury sanctions against the protocol. The post Tornado Cash's Discord server and governance forum shuttered amid arrest appeared first on The Block.

Dutch authorities on Friday said they had arrested a 29-year-old man believed to be a developer for the crypto mixing service Tornado Cash, which the United States put on its sanctions list this week.

The U.S. Treasury Department recently blacklisted the use of Tornado Cash, an open source project that allows users to hide their transactions. They claim Tornado has been used by North Korean hackers to launder over $7 billion in stolen cryptocurrency since 2019.

Authorities in the Netherlands collared a man suspected to be a Tornado Cash developer in Amsterdam on Wednesday. The Fiscal Information and Investigation Service said that the unidentified 29-year-old man was reportedly involved in money laundering via the decentralized Ethereum mixer Tornado Cash.