Roman Storm, the co-founder of the cryptocurrency mixing service Tornado Cash, has requested help to raise $500,000 in emergency funds ahead of his trial on money laundering and sanctions violations scheduled for Monday, July 14.
Storm announced on Saturday, July 12, that he is facing a "serious cash shortfall" and needs to raise $500,000 in the coming days, with an additional $1 million required in the following weeks to cover legal expenses.
"My team is working tirelessly to defend code as free speech, protect software development, and push back against government overreach that threatens us all," he added.
In May of this year, the organization Free Pertsev & Storm, which provides legal assistance to Tornado Cash founders, estimated that Storm's total legal costs for the trial would reach $2 million.
However, Storm stated on Friday, July 11, that due to "complex legal arguments and unexpected witnesses and evidence," his legal fees would increase to $3.5 million, as his trial could last up to four weeks, double the initial expectation of two weeks.
Storm was arrested in August 2023 for money laundering, conspiracy to operate an unlicensed money transmission business, and conspiracy to violate U.S. sanctions. If convicted, he faces a maximum of 45 years in prison.
On Friday, July 11, Storm's legal team attempted to delay the trial, arguing that prosecutors disclosed a witness after the deadline.
Judge Katherine Failla, who is overseeing Storm's criminal trial, stated that she would not allow mention of the U.S. Treasury's sanctions against Tornado Cash, which were lifted in March.
In April of this year, the crypto lobbying group DeFi Education Fund petitioned the Trump administration to end the so-called "disorderly prosecutions" of open-source software developers, including Roman Storm.
Storm is trying to raise a total of $3.5 million. As of the time of writing, Storm has successfully raised $1.96 million, about 57% of his goal.
According to Nansen, the amount raised may fluctuate as donations are made in the form of Ethereum (ETH). Currently, ETH is trading at $3,030, having risen 2.9% in the past 24 hours.
Last month, the Ethereum Foundation announced it would donate $500,000 and match community donations up to $750,000 for Storm's legal defense.
Bill Warren from MetaCartel stated that MetaCartel DAO has allocated all remaining funds in its treasury to support this cause.
Related: The Fragile Boundaries of Decentralization: DeFi Concerns Behind the GMX Vulnerability Incident
Original article: “Tornado Cash Developer Roman Storm Urgently Raises $500K Ahead of Trial”
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