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Market News

Tornado Cash Fundraiser Halted by GoFundMe

Written By:
Brian Mutembei

Last updated: February 17, 2024 12:38 PM
Published February 17, 2024 2:50 AM
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Last updated: February 17, 2024 12:38 PM
Published February 17, 2024 2:50 AM
Tornado Cash Fundraiser Halted by GoFundMe

GoFundMe terminated a fundraising campaign for Roman Storm and Alexey Pertsev, the figures behind the disputed crypto mixer, Tornado Cash. The campaign aimed to support their legal battle against U.S. charges, including money laundering and sanctions violations.

Important campaign update:

Yesterday, @gofundme notified the campaign organizers that the fundraiser for @rstormsf's legal defense was cancelled. They cite Term 22 of their terms of service, which can be interpreted to mean they simply didn’t like the fundraiser. pic.twitter.com/xqEFZ9Ncd5

— Free Pertsev & Storm (@FreeAlexeyRoman) February 14, 2024

GoFundMe referenced a terms violation, emphasizing the potential risk of harm exposure to the platform.GoFundMe postponed the Tornado Cash legal defense fundraiser, which had raised over $30,000 towards a $1.5 million goal. This action has raised debate within the cryptocurrency community. Critics argue the platform has previously facilitated similar legal defense funds, questioning the consistency of its policy enforcement.

Following the cancellation, the Tornado Cash community rallied, with figures like Ryan Adams repeating the importance of unrestricted financial support. Adams announced his intention to redirect his $10,000 donation to Storm via cryptocurrency. 

The money we sent to @rstormsf was cancelled by @gofundme – they shut it down.

I thought this might happen but am still surprised.

Good thing we have an uncensorable money system so we can still fund civil liberties like the right to a fair trial.

Resending $10k with crypto. https://t.co/5Ud4ELiaK5 pic.twitter.com/glRXwtXPBw

— RYAN SΞAN ADAMS – rsa.eth 🦄 (@RyanSAdams) February 15, 2024

In response to GoFundMe’s action, fundraising efforts have shifted to JuiceBox, a crypto-based platform, where supporters have already contributed 316.75 Ether to the cause. The case continues to attract attention, with NSA collaborator Edward Snowden supporting the need for a fair legal defense.

Also Read: Tornado Cash Co-Founder Seeks Help Amid Trials

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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Brian Mutembei Formar Crypto Journalist at The Crypto Times
By Brian Mutembei
Brian is a content writer& Blockchain enthusiast. Writes extensively on blockchain, cryptocurrency, and tokens to spread knowledge and awareness.

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