In the first several hours, fundraisers were able to collect more than $68,000.
In support of the accused Tornado Cash developers, Alexey Pertsev and Roman Storm, an activist group established a legal defense fund on January 22.
The fundraising has the support of Roman Storm, who said, “For the remainder of my life, 2024 will be a defining year. To be honest, I’m terrified. However, I am also filled with optimism that this community is really concerned. I urge you to contribute to the cost of my defense.”
Ameen Soleimani, who is linked to other Bitcoin and Ethereum initiatives, also launched the DAO. As Soleimani put it:
“Roman and Alexey are fighting for all of us. The results of these experiments will significantly impact the Ethereum community and its users, particularly those involved in developing privacy-enhancing solutions.”
Free Pertsev & Storm is the organization behind the fund. From January 22 to February 22, the group’s fundraising would be held. They also said that the defendants’ monthly legal bills would be between $90,000 and $100,000. They will build their defensive plan over the “upcoming months,” it said.
There are three different fundraising sites where people can make donations. The Free Pertsev & Storm crowdfunding page on JuiceBoxDAO has received 78 contributions totaling 23 ETH ($53,300) as of 11:00 p.m. UTC on January 22.
Furthermore, $14,745 in cash was collected via the group’s GoFundMe campaign. It seems like another website at WeWantJusticeDAO.org is also collecting contributions, but it doesn’t disclose how much money has been received.
The U.S. Treasury banned several on-chain crypto addresses connected to Tornado Cash in August 2022, which was the first American action against the company.
The DOJ started pursuing charges against the platform’s creators about one year after the platform was launched. The agency indicted Storm in August 2023 for his involvement in developing the Tornado Cash currency mixer. He was accused of conspiring to violate sanctions, operate an illegal money-transmitting firm, and engage in money laundering. At the same time, the DOJ filed charges against Roman Semenov, who is still on the run.
In August 2022, on similar suspicions of money laundering, Alexey Pertsev was apprehended in the Netherlands. The U.S. government has not yet brought charges against him, but the Treasury has identified him for his involvement in Tornado Cash.
U.S. officials assert that cybercrime organizations, such as North Korea’s Lazarus Group, and money launderers use Tornado Cash and similar currency mixers. The cryptocurrency community has widely rebutted idea, arguing that coin mixers may be useful for users’ privacy in everyday situations.
The DeFi Education Fund opposed a government proposal to classify coinmixers as a distinct money laundering issue, which is important to note.
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