Vitalik Buterin wallet contributes 30 ETH to Tornado Cash legal fund

cyptouser1 months agoCryptocurrencies News29
55966e89>

A wallet associated with Vitalik Buterin, co-founder of Ethereum, transferred 30 Ether, valued at $113,000, to Juicebox, an open-source crypto crowdfunding platform. The funds were allocated for legal assistance to support Tornado Cash developers Alexey Pertsev and Roman Storm.

At the time of this publication, the fund had raised about 591 Ether (ETH) and will support the legal defense of Tornado Cash developers in their court battle to prove their innocence.

Alexey Pertsev and Roman Storm legal defense fund. Source: Juicebox-Free Alexey & Roman

Law enforcement crackdown on privacy tools

Crypto veterans, including Buterin, have long advocated for crypto privacy and tools that help users manage their assets privately. Buterin himself has published numerous papers and suggestions on how to enhance privacy on Ethereum and thus, his support for the cause doesn’t come as a surprise.

Tornado Cash is a crypto privacy tool that allows users to send crypto transactions anonymously. Although focused on privacy, criminals often use the tool to proceed with hacked or stolen funds.

The nature of the tool attracted the attention of law enforcement agencies, leading the United States Treasury’s Office of Foreign Assets Control (OFAC) to sanction its use in August 2022.

Tornado Cash founders were arrested and charged with violating the Anti-Money Laundering rules. A Dutch court subsequently sentenced Alexey Pertsev to five years on money laundering charges.

As law enforcement agencies seek software developers, experts have warned that this could have a far-reaching impact on the crypto industry.

Related: Donald Trump says his campaign will accept crypto

Crypto community's fight for freedom 

The law enforcement crackdown on crypto privacy has deeply impacted privacy-focused coins such as Monero, which has been delisted from major exchanges worldwide. Similarly, privacy tools have also faced criticism from regulators.

However, the crypto community believes that despite counter-views on privacy, law enforcement agencies arresting software developers for merely writing codes and treating them as equivalent to terrorists is not justified.

Source: Erik Voorhees on X

The crypto community has long advocated for human rights. It is one of the most proactive communities demanding the release of Ross Ulbricht, the creator behind the infamous Silk Road marketplace.

Ulbricht is currently serving two consecutive life sentences without parole for non-violent crimes.

The crypto community’s voice has helped the moment gain the attention of former President Donald Trump, who promised to pardon Ulbricht if elected president.

Magazine: The $2,500 doco about FTX collapse on Amazon Prime… with help from mom

The content on this website comes from the Internet. Due to the inconvenience of proofreading the authenticity and accuracy of the copyright or content of some content, it may be temporarily impossible to confirm the authenticity and accuracy of the copyright or content. For copyright issues or other issues caused by this, please Call or email this site. It will be deleted or changed immediately after verification.

related articles

Bitcoin and altcoins fail to rally even as U.S. inflation cools down

Bitcoin and altcoins fail to rally even as U.S. inflation cools down

55966e89˃Investors' risk appetite tends to increase with a lower cost of capital and higher liquidit...

Bitcoin's $66.9K price holds strong, casts doubts on a 'deep correction'

Bitcoin's $66.9K price holds strong, casts doubts on a 'deep correction'

55966e89˃Bitcoin’s (BTC) price has cemented its position slightly above its key support level of $65...

AI-driven data platform empowers users to shape the blockchain analytics and forensics space

AI-driven data platform empowers users to shape the blockchain analytics and forensics space

55966e89˃The market value of the blockchain-based Web3, which offers decentralized management, advan...

Over 35 fake Elon Musks live-streamed during SpaceX launch

Over 35 fake Elon Musks live-streamed during SpaceX launch

55966e89˃YouTube was again flooded with deep fake versions of Elon Musk on Thursday, with scammers h...

Solana-based Cypher developer confesses to gambling away $300K of user funds

Solana-based Cypher developer confesses to gambling away $300K of user funds

55966e89˃Pseudonymous Cypher Protocol developer Hoak has confessed to stealing nearly $300,000 worth...

Coinbase International sets perpetual futures leverage limit to 10x

Coinbase International Exchange said on Dec. 28 that it has set leverage limits to 10X on its variou...