Key Takeaways
Alexey Pertsev was convicted by a Dutch courtroom for laundering $1.2 billion via Twister Money and sentenced to over 5 years in jail;
Twister Money, linked to high-profile cybercrimes, was scrutinized after being blacklisted by the US Treasury;
The conviction units a precedent affecting different Twister Money builders.
On Might 14, a Dutch courtroom in s-Hertogenbosch discovered Twister Money developer Alexey Pertsev responsible of cash laundering and sentenced him to 5 years and 4 months in jail.
The courtroom established that Pertsev participated in laundering $1.2 billion price of belongings via Twister Money from July 9, 2019, to August 10, 2022.
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Though Pertsev had no management over the funds, the prosecution argued that he ought to have suspected the felony origins of the transactions processed through the Twister Money platform.
The crypto mixer Twister Money has been scrutinized for its connections to a number of high-profile cybercrimes, together with a $625 million theft from Axie Infinity’s Ronin Community by the North Korean hacking group Lazarus.
Pertsev’s arrest in August 2022 got here shortly after the US Treasury blacklisted Twister Money for allegedly facilitating such cyber thefts.
This ruling not solely impacts Pertsev but in addition units a precedent for the therapy of different Twister Money builders dealing with related prices. This contains Roman Storm, scheduled for trial within the US in September, and Roman Semenov, who’s presently at giant.
Nevertheless, as a consequence of variations in how US and Dutch legal guidelines method private accountability in alleged crimes of this nature, Storm is just not held chargeable for the laundering of $1.2 billion.
This conviction underscores the rising authorized dangers for builders and operators of cryptocurrency mixing providers, which authorities world wide are scrutinizing extra rigorously.
Having accomplished a Grasp’s diploma in Economics, Politics, and Cultures of the East Asia area, Aaron has written scientific papers analyzing the variations between Western and Collective types of capitalism within the post-World Struggle II period.With near a decade of expertise within the FinTech trade, Aaron understands the entire largest points and struggles that crypto lovers face. He’s a passionate analyst who is anxious with data-driven and fact-based content material, in addition to that which speaks to each Web3 natives and trade newcomers.Aaron is the go-to particular person for every part and something associated to digital currencies. With an enormous ardour for blockchain & Web3 training, Aaron strives to rework the area as we all know it, and make it extra approachable to finish rookies.Aaron has been quoted by a number of established shops, and is a printed creator himself. Even throughout his free time, he enjoys researching the market traits, and on the lookout for the following supernova.
