Tornado Cash founder Roman Storm seeks last-minute donations to defend open-source code

Tornado Cash co-founder Roman Storm is calling on privacy advocates to help raise $500,000 for legal expenses ahead of his July 14 trial. Storm, in a July 12 X post , said his team was “working nonstop to defend code as free speech, protect software development, and push back against government overreach” that threatens developers in the decentralised space. However, his team is facing a “critical shortfall” and needs to raise the amount within days to keep the defence on track. Storm believes legal expenses could now reach $3.5 million, as the trial has doubled in length and introduced unexpected witnesses and legal challenges that demand a stronger defence effort. The initial projection was $2 million, before the trial expanded in scope. Charges against Storm Storm is facing multiple criminal charges, including conspiracy to commit money laundering, conspiracy to violate the International Emergency Economic Powers Act (IEEPA), and operating an unlicensed money transmitting business. Prosecutors allege that Tornado Cash has helped bad actors launder more than $1 billion in illicit funds, including cryptocurrencies stolen by North Korea-linked Lazarus Group. The mixer was launched in 2019 by Storm, Roman Semenov, and Alexey Pertsev as a privacy-enhancing platform to anonymise crypto transactions by pooling crypto deposits and redistributing them to break on-chain links. Tornado Cash was sanctioned by the US Treasury in 2022, but the sanctions were later rescinded following a Texas court order, prompting the Treasury to drop its defence in a separate challenge by cryptocurrency advocacy group Coin Centre. Storm was arrested in August 2023 and later released on $2 million bail, as he is awaiting trial. The crypto community has rallied in support To support Storm’s defence, the Free Pertsev & Storm fund was established earlier this year. Initially estimating $2 million in legal costs, the fund has since updated its target to $3.5 million. At the time of writing, the fund has raised approximately $2.11 million in ETH, or 61% of the goal. Several industry stakeholders, including Ethereum co-founder Vitalik Buterin , have backed the fundraising campaign over the past years. The Ethereum Foundation has previously committed $500,000 and pledged to match community donations up to $750,000. Meanwhile, MetaCartel DAO has contributed funds from its treasury to support the defence. Beyond monetary backing, in June, investment firm Paradigm filed an amicus brief supporting Storm, arguing that developers who do not control user funds should not be held liable as money transmitters. Over 250 individuals, including Ethereum core developer Tim Beiko and Bankless co-founder Ryan Sean Adams, signed a letter urging authorities to halt what they described as regulatory overreach. Storm’s trial will begin in the Southern District of New York, presided over by Judge Katherine Polk Failla. His co-defendant, Roman Semenov, remains at large, while Alexey Pertsev is under house arrest in the Netherlands after being convicted of money laundering in May 2024. The post Tornado Cash founder Roman Storm seeks last-minute donations to defend open-source code appeared first on Invezz

Source: Invezz