Developer found guilty of laundering $1.2 billion in crypto

In a recent trial in the Netherlands, Alexei Pertsev, a developer behind Tornado Cache, was sentenced to five years and four months in prison for money laundering. The tool he created, Tornado Cache, was alleged to have allowed criminals to launder $1.2 billion in stolen cryptocurrency. This case highlights the pivotal role of crypto privacy tools like Tornado Cache in enabling money laundering and the potential impact on financial surveillance efforts. Despite claiming lack of direct control over Tornado Cache due to its operation on the Ethereum blockchain, Pertsev was held responsible for facilitating criminal activity.