Tornado Cash Developer’s Arrest Sparks Protest in Amsterdam

More than 50 people gathered in Amsterdam’s historic Dam Square this weekend in protest of Tornado Cash developer Alexey Pertsev’s arrest

article-image

Source: Tornado Cash

share
  • Tornado Cash developer Alexey Pertsev was arrested earlier this month over alleged facilitation of money laundering
  • Privacy advocates worry Pertsev’s arrest could have damaging consequences for open-source coders

Supporters of Tornado Cash developer Alexey Pertsev gathered in Amsterdam to protest over the weekend, almost two weeks after he was arrested in the Dutch capital.

Dutch financial crimes agency FIOD suspects the 29-year-old programmer of facilitating money laundering through the crypto-mixing service. But the agency hasn’t specified under which laws Pertsev was arrested. He is yet to be charged with a specific crime, per the latest available information.

Pertsev’s arrest has sparked widespread backlash among open source developers, and an online petition decrying his detention has garnered almost 2,000 signatures.

DeFi (decentralized finance) aggregator 1inch Network had called on individuals to join a protest rally in Amsterdam’s historic Dam Square, arguing developers, including Tornado Cash programmers, hold no control over how their code is used.

On Saturday, over 50 protesters held placards with slogans including: “Free Alex Pertsev,” “Writing open source code is not a crime,” and, “Will you arrest a gun maker for facilitating public shooting?”

Loading Tweet..

The Change.org petition, created by Helsinki-based product manager Daria Mironova, states the “accusations against Alex threaten to kill the entire open-source software segment.”

US authorities believe Tornado Cash is a primary tool for North Korean hacker crew Lazarus Group in laundering stolen cryptocurrency. 

Earlier this month, the US Treasury sanctioned the mixer’s blockchain addresses, among others, rendering it illegal for US persons to interact with the tool.

The mixer’s front-end web app is now offline, although the actual protocol — which is powered by smart contracts — persists on the Ethereum blockchain.

Pertsev’s wife Ksenia Malik told Cointelegraph last week that she hasn’t got the chance to contact him after authorities took him in.

Malik said she didn’t expect someone could be arrested for writing open source code and expressed gratitude for support shown.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates (8).png

Research

Kinetiq has established itself as Hyperliquid's dominant liquid staking protocol, holding 82.5% of LST market share with $610M in TVL. The protocol is now expanding beyond its kHYPE staking core into higher take-rate verticals: iHYPE for institutional custody rails, Launch for HIP-3 capital formation, and Markets for builder-deployed perpetuals. We view Markets, launching Jan. 12, as the highest-potential product line given its mechanically scalable, activity-linked unit economics. Near-term revenue remains anchored by kHYPE's KIP-2 fee schedule (~$1.6M annualized), while Markets provides embedded optionality if HIP-3 economics normalize post-Growth Mode. KNTQ's setup is relatively clean: zero insider unlocks until November 2026, 6.2% buyback yield from staking revenue, and cleared airdrop overhang. Risks center on unproven Markets execution, declining kHYPE TVL despite ongoing incentives, and competition from Hyperliquid's native initiatives.

article-image

BTC finished the week up 1.6%, while L2s, RWAs and the treasury trade continued to grind lower

article-image

DTCC moves DTC-custodied Treasuries onchain via Canton, while Lighter’s LIT launches trading at a fees multiple in Hyperliquid territory

article-image

In the 90s, rapt audiences worldwide watched a coffee pot — will that fascination ever turn to crypto?

article-image

Some systems improve by failing — and crypto has no choice

article-image

Yield Basis introduces an IL-free AMM design that already dominates BTC DEX liquidity

article-image

Maybe tokenholders don’t need the rights that corporate shareholders have come to expect

Newsletter

The Breakdown

Decoding crypto and the markets. Daily, with Byron Gilliam.

Blockworks Research

Unlock crypto's most powerful research platform.

Our research packs a punch and gives you actionable takeaways for each topic.

SubscribeGet in touch

Blockworks Inc.

133 W 19th St., New York, NY 10011

Blockworks Network

NewsPodcastsNewslettersEventsRoundtablesAnalytics