Tornado Cash Co-Founder Freed on Bail – US Prosecutors‘ Novel Theory Questioned

26. August 2023 Aus Von admin

•Roman Storm, co-founder of the crypto mixer Tornado Cash, is out on bail after being arrested earlier this week.
•His lawyer, Brian Klein, believes the arrest has dangerous implications for all software developers.
•Storm was accused of conspiracy to commit money laundering, conspiracy to operate an unauthorized money-transfer business, and conspiracy to violate US sanctions.

Tornado Cash Co-Founder Freed on Bail

The US prosecutors arrested one of the co-founders of the crypto mixer Tornado Cash – Roman Storm – earlier this week over allegations that his entity facilitated money laundering operations and was involved with the North Korean hacking collective – the Lazarus Group. However, he is now freed on bail.

Out on Bail

Roman Storm’s attorney – Brian Klein – revealed that his client is out on bail (without disclosing the amount of money posted for the release). He expressed his disappointment with the detention and suggested that US prosecutors’ “novel legal theory has dangerous implications for all software developers.”

Accusations Against Storm

American law enforcement agents arrested Storm on August 23 and accused him and his associate Roman Semenov (another co-founder of Tornado Cash) of conspiracy to commit money laundering, conspiracy to operate an unauthorized money-transfer business, and conspiracy to violate US sanctions.

Dangerous Implications for Software Developers

Storm’s lawyer believes that US prosecutors‘ novel legal theory could have dangerous implications for all software developers. By arresting individuals like Roman Storm who are developing software can create fear in other developers which might lead them not taking any chances while working on new projects or technologies related to cryptocurrency or blockchain technology in general.

Conclusion

In conclusion, it is important to note that while Roman Storm was released on bail after being arrested by US authorities earlier this week due to accusations related to money laundering operations facilitated by Tornado Cash – his lawyers believe that these arrests could have serious consequences for other software developers as well due to a „novel legal theory“ proposed by US prosecutors.