Edward Snowden Calls for Support to Fund Legal Defense of Tornado Cash Founder
Former CIA contractor Edward Snowden has appealed for financial aid to help support the legal defense of Roman Storm, the founder of Tornado Cash.
Storm and his co-founder Semenov were arrested in August 2023 on charges of sanctions violations and money laundering through their crypto mixing service, accused of laundering over $1 billion.
Storm, in a video posted on X, expressed his determination to put up a strong defense for the sake of his family and the future of software developers and financial privacy.
He called on the crypto community to contribute to his legal defense fund, emphasizing that this case will have far-reaching implications.
Storm, who holds US and Russian citizenship, was released on bail after posting a $2 million bond secured against his Washington state residence.
Snowden has joined the cause, stating that privacy is not a crime.
Tornado Cash Sees Significant Drop in Transactions Following OFAC Sanctions
Tornado Cash, founded by Storm, Semenov, and Pertsev in 2019, offers users a way to protect their financial privacy by hiding their transaction history.
The mixer operates by masking transaction trails and providing protection against surveillance and tracking.
In 2022, Tornado Cash was hit with sanctions by the US Treasury Department’s Office of Foreign Assets Control (OFAC) for alleged involvement in money laundering activities with North Korean hackers.
The sanctions prohibited US residents from using the service for sending or receiving funds.
Tornado Cash experienced an 85% decrease in overall volume following the sanctions, with illicit transactions through the mixer dropping by about 77%, according to TRM Labs.
Edward Snowden and Roman Storm Share a Mission for Privacy
Snowden’s support for Storm is not surprising, as they both advocate for privacy and encryption.
Snowden gained fame for leaking NSA materials that led to significant changes in privacy policies and technologies.
Critics argue that Tornado Cash provides a legitimate tool for financial privacy, including anonymous political donations and personal finance protection.
Groups like Coin Center and the Blockchain Association have shown support for the developers of Tornado Cash.
Hot Take: Edward Snowden Calls on Crypto Community to Fund Legal Defense of Tornado Cash Pioneer
Former CIA contractor Edward Snowden has requested assistance from the crypto community in supporting the legal defense of Roman Storm, the founder of Tornado Cash. Storm and his co-founder Semenov were arrested on charges of sanctions violations and money laundering through their crypto mixing service. Storm emphasized the importance of his trial, stating that it will impact software developers and financial privacy. Snowden urged individuals to contribute to Storm’s legal defense fund, asserting that privacy should not be criminalized. The involvement of Snowden, a renowned whistleblower, highlights the significance of this case in relation to privacy rights. Tornado Cash has faced challenges following OFAC sanctions, with a significant decrease in transactions. However, advocates argue that Tornado Cash provides users with a means to protect their financial privacy.
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