Tornado Cash: Crypto money laundering suspect remanded into custody

A court in Den Bosch decided on Wednesday to extend the pre-trial detention of a man suspected of cryptocurrency money laundering by an additional 90 days, according to the Public Prosecution Service (OM).

The man was arrested in Amsterdam earlier this month on suspicion of creating the decentralized Etherium mixing service Tornado Cash. The public prosecutor informed three judges about the investigation, after which they heard the defense. The council chamber then decided to keep the man in custody for another 90 days, according to the OM.

The 29-year-old man is suspected, along with others, of using the mixing service to conceal the "origin, destination and ownership of more than 1 billion worth of criminally obtained cryptocurrencies," according to the OM. The United States government placed Tornado Cash on its sanctions list on Aug. 8.

The investigation is ongoing and more arrests may be made, according to the FIOD, the Tax Authority's investigative department.