TITTLE: The Netherland's financial crime agency arrested the Tornado Cash developer.

On August 10, the Dutch Fiscal Information and Investigation Service (FIOD) arrested Alexey Pertsev (29) as a suspect to be a developer behind the Tornado Cash online service.

A couple of days earlier, on August 8, the US Treasury sanctioned the Tornado Cash online service and froze all of their property in hand of the US regulators. The Treasury also issued a list of cryptocurrency wallet addresses that are affected by this sanctions.

The FIOD mentioned in the statement that 'advanced technologies, such as decentralised organisations (DAO) that may facilitate money laundering are receiving extra attention' from the financial watchdog.

'Investigations showed that at least one billion dollars' worth of cryptocurrencies of criminal origin passed through the mixer. It is suspected that persons behind this organisation have made large-scale profits from these transactions'

This is a rare case in which the open source developer is charged for the illicit activities that are performed on the platform he created.

The investigation is led by the Public Prosecutor’s Office for serious fraud, environmental crime and asset confiscation.

LINK: https://www.fiod.nl/arrest-of-suspected-developer-of-tornado-cash/

TOPIC: Cryptocurrency, Blockchain, Legal, cybercrime,

an interesting example of online ocurts