Arbitrum Community Reverses Decision on Funding Tornado Cash Developer Legal Defense The
Arbitrum decentralized autonomous
organization (DAO) has retracted a proposal that aimed to provide financial support for the legal defense costs of Tornado
Cash’s developers. The proposal, which called for the allocation of approximately $1.3 million worth of
Arbitrum (ARB) tokens from the community wallet, intended to assist Roman Storm and
Alexey Pertsev, the developers behind the crypto mixer Tornado Cash.
The allocated budget could have also been used for public relations and advocacy efforts to promote privacy-preserving technologies. “By rallying support for their legal fund, we aim to safeguard not only the future of privacy-preserving technologies but also the broader principles of innovation,
decentralization, and individual sovereignty within our industry,”
the proposal read. The pseudonymous
delegate DK initiated the proposal on March 7, advocating for a strong legal defense for the developers. However, the user has since
removed the proposal without providing any reasons.
Tornado Cash and its founders face allegations of laundering over $1 billion in illicit funds, including money associated with the hacking group Lazarus Group.
