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Recent reports indicate that Tornado Cash developer Alexey Pertsev is expected to be released from prison by authorities and will be placed under house arrest with an ankle monitor and surveillance starting next week, following a ruling from a Dutch court.
The Founder of Tornado Cash, Alexey Pertsev has reportedly been released from jail
pic.twitter.com/jHvZttGkOz
— Crypto Crib (@Crypto_Crib_) April 20, 2023
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Pertsev was apprehended by Dutch authorities in August after the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) enacted sanctions on the cryptocurrency mixing service. Although no formal charges have been filed against him, a group of Dutch judges previously denied bail due to concerns about flight risk.
In light of the news regarding Pertsev’s forthcoming release, the price of Tornado Cash’s token, TORN, has surged by more than 20% within the past 24 hours and is currently valued at $9.92. The trading volume has also experienced a notable increase of 309%, reflecting heightened interest among traders.
TORN Price Chart (Source: CMC)
According to investor sentiment, TORN’s price could potentially rise to $20 if Pertsev is released, and it might exceed $50 if exchanges such as Coinbase decide to list it. Coinbase has expressed full support for Pertsev. The next hearing in this matter is set for May 24, where Pertsev’s attorney intends to contest the claims made by prosecutors.
