Tornado Cash rallies 20% ahead of Alexey Pertsev’s release

A Dutch court’s decision to release developer Alexey Pertsev, who has been detained for two months pending a hearing, has led to a massive surge in the price of Tornado Cash’s (TORN) cryptocurrency.

Crypto educator and activist Eléonore Blanc, who has been monitoring the case, confirmed Pertsev’s released under strict conditions, including surveillance and an ankle monitor, which was enough to send TORN soaring 23.55% in less than an hour.

The United States Treasury Department sanctioned Tornado Cash for allegedly facilitating money laundering and was used by hacker groups, including the North Korean state-backed Lazarus Group, to launder stolen assets worth more than $7 billion since its creation in 2019.

The decision is a significant win for Tornado Cash users and crypto advocates, who have challenged the Treasury’s sanctions in court.