Vitalik Buterin, co-founder of Ethereum, has transferred 30 ETH, equivalent to just over $113,000, to Juicebox, a crowdfunding platform dedicated to crypto projects.
This amount is intended to legally assist the developers of Tornado Cash, Alexey Pertsev and Roman Storm, in their legal battle. These funds contribute to a common pot that has already accumulated nearly 600 Ether to fund the defense of the two accused developers.
Legal battle and defense of privacy
Tornado Cash is a crypto privacy tool for anonymous transactions. Although it is designed for privacy, it has been used by criminals to launder stolen or hacked funds, which has caught the attention of authorities.
In August 2022, the United States Office of Foreign Assets Control (OFAC) sanctioned its use, leading to the arrest of the founders of Tornado Cash. Alexey Pertsev was sentenced by a Dutch court to five years in prison for money laundering.
Implications for the crypto industry
Vitalik’s active participation in this defense fund is not surprising given his longstanding advocacy for privacy in crypto and for tools that enable private asset management.
He has published numerous articles and suggestions to improve privacy on Ethereum. The Tornado Cash case raises concerns within the crypto community, as regulatory pressure on open-source software developers could have a significant impact on the entire industry, experts warn.
