Crypto Mufasa
Advertise
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
  • Login
  • Register
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
Crypto Mufasa
No Result
View All Result

Home » Arbitrum DAO Withdraws Proposal Supporting Tornado Cash Developers

Arbitrum DAO Withdraws Proposal Supporting Tornado Cash Developers

Hania by Hania
March 11, 2024
in Altcoin News
Reading Time: 2 mins read
A A
0
Arbitrum DAO Withdraws Proposal Supporting Tornado Cash Developers
Share on FacebookShare on Twitter
ADVERTISEMENT

In a recent development, the Arbitrum DAO has retracted its proposal aimed at funding the legal defence expenses of Tornado Cash developers, Roman Storm and Alexey Pertsev.

Arbitrum DAO Proposal Removal Raises Questions

The Arbitrum community was surprised by the sudden removal of a proposal seeking financial backing for the legal defence of Tornado Cash developers. The initiative, spearheaded by a delegate known as DK, aimed to allocate approximately $1.3 million worth of ARB tokens from the community wallet to support Storm and Pertsev’s legal battle. However, the proposal was swiftly taken down at the request of its author, leaving many unanswered questions within the community.

Allegations Against Tornado Cash

The proposal’s withdrawal comes amid serious allegations against Tornado Cash and its creators. Accused of laundering more than $1 billion in illicit funds, including those associated with the Lazarus Group hacking organization, Storm and Pertsev face charges of money laundering, sanctions violations, and operating an unlicensed money transfer business in the United States.

Arbitrum DAO Withdraws Proposal Supporting Tornado Cash Developers
Source: Arbitrum DAO

Pertsev was arrested in the Netherlands in August 2022, while Storm was apprehended by the Federal Bureau of Investigation in August 2023. Meanwhile, Roman Semenov, the third co-founder of Tornado Cash, remains at large.

You May AlsoLike

Election-Themed Meme Coins Experience Price Surge Ahead of U.S. Presidential Vote

Election-Themed Meme Coins Experience Price Surge Ahead of U.S. Presidential Vote

November 4, 2024
$BC token launch

$BC Token Launch and 1 Billion $BC Airdrop: A New Era for BC.Game

November 1, 2024

Controversy Surrounding Tornado Cash

Despite the legal storm brewing around Tornado Cash, its supporters argue that the platform merely provides decentralized software for money transmission and does not directly engage in such activities. The crackdown on Tornado Cash has not only put the developers’ future in jeopardy but has also raised concerns among privacy-oriented application developers about the broader implications of such actions.

Financial Hurdles for Developers

In addition to legal battles, Storm and Pertsev have encountered financial hurdles in their quest for legal defence. A crowdfunding campaign on GoFundMe aimed at raising funds for their legal fees was abruptly terminated on February 16 due to violating the platform’s terms of service. This setback underscores the challenges faced by developers navigating the legal landscape of the crypto world.

Tags: crypto newsCryptocurrencies
Share76Tweet47
ADVERTISEMENT
Previous Post

Meme Coin Mania: Could It Lead to a Surge of New Millionaires?

Next Post

BlackRock’s Bitcoin ETF Surpasses MicroStrategy’s Cryptocurrency Reserves

Hania

Hania

Hania is a 30-year-old blogger who used to be a teacher before entering the world of writing. She is originally from India and has been writing blogs on various topics for 2 years now. Hania is particularly interested in exploring the intersections of finance, technology, and cryptocurrency. Her experience as a teacher has given her unique insights into the ways in which digital media can be used to facilitate learning and engagement. Through her writing, Hania hopes to share her knowledge and learning of crypto industry with everyone.

Related Posts

Election-Themed Meme Coins Experience Price Surge Ahead of U.S. Presidential Vote
Altcoin News

Election-Themed Meme Coins Experience Price Surge Ahead of U.S. Presidential Vote

November 4, 2024
$BC token launch
Altcoin News

$BC Token Launch and 1 Billion $BC Airdrop: A New Era for BC.Game

November 1, 2024
Why Chris Larsen's XRP Donation to Kamala Harris Matters
Altcoin News

Ripple Co-Founder Chris Larsen Backs Kamala Harris with $10M XRP Donation

October 23, 2024
Ripple Custody Growth
Altcoin News

Ripple Custody Unveils New Features to Boost Growth

October 10, 2024
Ethereum ICO Whale Offloads 19,000 ETH Worth $47M
Altcoin News

Ethereum ICO Whale Offloads 19,000 ETH Worth $47M Amid Market Uncertainty

October 4, 2024
Ripple secures approval for Dubai expansion
Altcoin News

Ripple Secures Approval For Dubai Expansion

October 3, 2024
Next Post
BlackRock’s Bitcoin ETF Surpasses MicroStrategy’s Cryptocurrency Reserves

BlackRock's Bitcoin ETF Surpasses MicroStrategy's Cryptocurrency Reserves

Discussion about this post

Live Prices

You have not selected any currency to display

Stay Connected

You May Also Like

  • Bitcoin Halving Update: Bitwise CEO's $100k Price Projection Sparks Excitement

    Why the Bitcoin Halving Is Happening Sooner Than Anticipated

    239 shares
    Share 96 Tweet 60
  • MetaMask Ethereum Wallet Expands Support for Both Bitcoin and Solana

    197 shares
    Share 79 Tweet 49
  • March 2025 Polymarket Bets Boom for Bitcoin, XRP, ETH, AI, and DOGE – The Future of Cryptocurrency Trading!

    196 shares
    Share 78 Tweet 49
  • OKB Price Prediction 2023 – 2030: Will OKB reach $200?

    201 shares
    Share 80 Tweet 50
  • November’s Bitcoin Price Forecast: A Bullish Odyssey

    196 shares
    Share 78 Tweet 49
  • About Us
  • Contact Us
  • Work With Us
  • Privacy Policy
  • Terms Of Service

© 2022-2024 CryptoMufasa - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

*By registering into our website, you agree to the Terms Of Services and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Price Predictions
  • Google News

© 2022-2024 CryptoMufasa - All Rights Reserved!

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Don’t Miss Out on the Best in Crypto!

Stay ahead with a weekly digest of the top news and insights—no spam, no ads, just the essential updates delivered straight to your inbox. Subscribe now for valuable content you can trust!

johnsmith@example.com
subscribe to email

Never see this message again.