The Office of Foreign Assets Control (OFAC), a watchdog tasked with preventing sanctions violations, added Tornado Cash to its Specially Designated Nationals list, a running tally of blacklisted people, entities and cryptocurrency addresses. As a result, all U.S. persons and entities are prohibited from interacting with Tornado Cash or any of the Ethereum wallet addresses tied to the protocol. Those who do may face criminal penalties.
Tornado Cash has been a key tool for the Lazarus Group, a North Korean hacking group tied to the $625 million March hack of Axie Infinity’s Ronin Network, according to the Treasury Department. Blockchain analysis showed that tens of millions of dollars' worth of crypto stolen from Ronin flowed through Tornado Cash, which is designed to obfuscate the source of funds. OFAC previously sanctioned Blender.io, another mixing service that the Treasury Department alleged was used to launder proceeds from ransomware attacks, as well as about $20.5 million in...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...