Tornado Cash founder sent to prison, DeFi’s EU struggles: Finance Redefined
The Tornado Cash developer has been detained in the Netherlands since August 2022 after the United States government blacklisted Tornado Cash.
The past week in DeFi saw the guilty verdict of the Tornado Cash developer for money laundering. Alexey Pertsev was sentenced to over five years in prison.
In other news, Binance found an antidote to the infamous address poisoning scam, Polymarket raised $70 million, attracting investment from Vitalik Buterin and Peter Thiel, and DeFi faces a challenging future in the European Union.
Tornado Cash developer guilty of money laundering
Alexey Pertsev, the developer of the cryptocurrency mixing protocol Tornado Cash, has been found guilty of money laundering. This has potentially severe implications for open-source code developers.
On May 14, Dutch judges at the s-Hertogenbosch Court of Appeal found Pertsev guilty of money laundering. The developer was sentenced to five years and four months in prison for allegedly laundering $1.2 billion worth of illicit assets on the platform.