A popular cryptocurrency service that allows users to mask their transactions was sanctioned by the US Treasury Department based on evidence North Korean hackers relied on it to launder illicit gains, officials announced on Monday.
Tornado Cash, a type of anonymizing virtual currency exchange designed to preserve the privacy of blockchain users, has laundered more than $7 billion in virtual currency, a senior Treasury official said in a press conference. North Korea’s Lazarus Group has laundered $450 million through Tornado Cash, according to the official. It was also used to launder almost $100 million in the June hack of the ...
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