As of the publishing date, the fund has collected around 591 ETH, which would go toward the legal representation of the Tornado Cash developers as they fight to establish their innocence in court.
The Ethereum co-founder Vitalik Buterin’s wallet sent 30 Ether, worth $113,000, to the open-source cryptocurrency crowdfunding site Juicebox. Tornado Cash’s creators, Alexey Pertsev and Roman Storm, will have legal representation with the help of these funds.
As of this writing, the fund has amassed 591 Ether, which would go toward the Tornado Cash developers’ legal representation as they fight to establish their innocence in court.
Buterin is just one of several crypto industry veterans who have long pushed for user privacy and tools to handle crypto assets secretly. His support for the cause is not surprising, given that Buterin has written extensively on the topic of improving Ethereum privacy.
To transmit cryptocurrency anonymously, use Tornado Cash, a privacy solution for cryptocurrencies. Despite the tool’s privacy emphasis, thieves often utilize it to launder stolen or compromised assets.
The United States Treasury’s Office of Foreign Assets Control (OFAC) sanctioned the tool’s usage in August 2022 after law enforcement agencies were interested in it due to its nature.
Authorities have taken action against the creators of Tornado Cash, who are facing charges related to anti-money laundering violations. After that, on allegations of money laundering, a Dutch court handed down a five-year term to Alexey Pertsev.
The crypto business might be in some serious trouble if law enforcement agencies start targeting software developers, according to experts.
As a result of the government’s assault on crypto privacy, privacy-focused currencies like Monero have taken a big hit, with the delisting of the cryptocurrency from many major exchanges across the globe. Regulators have also voiced their disapproval of privacy technologies.
Despite differing opinions on privacy, many in the crypto community maintain that it is unjust for law enforcement to treat software writers like terrorists and jail them for coding alone.
Members of the crypto community have long fought for the rights of all people. It is among the most vocal groups calling for the acquittal of Ross Ulbricht, the guy responsible for the notorious Silk Road bazaar.
For two nonviolent offenses, Ulbricht is now serving life terms without the possibility of release. Trump, who campaigned on a platform of promising to pardon Ulbricht if elected, has taken notice of the situation thanks to the crypto community’s outcry.
Also Read: Biden shifts his stance on crypto in light of upcoming elections
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