Tornado Cash (TORN) cryptocurrency experienced a significant surge in price after news emerged that a Dutch court had decided to release the developer of the platform, Alexey Pertsev, under strict conditions.
According to sources, Pertsev will be released to his home under surveillance and ankle monitor, which led to a 23.55% increase in the TORN cryptocurrency’s price in less than an hour.
The US Treasury Department sanctioned Tornado Cash in August 2022, alleging that hackers had used the platform to launder stolen assets, including $80 million that they stole from the Ethereum-based stablecoin protocol Beanstalk Farms in April 2022. Pertsev was arrested after the sanctions.
The news of his release has boosted the cryptocurrency’s price by 18.86% on the day and added up to 43.29% during the previous month.
