The Fiscal Information and Investigation Service (FIOD) of the Netherlands said it arrested a 29-year-old man in Amsterdam on suspicion of "concealing criminal financial flows" and "facilitating money laundering" through crypto mixing service Tornado Cash.
The suspect is brought before the examining judge and "multiple arrests are not ruled out," the FIOD said.
As reported, this week, Tornado Cash was placed by the US government on the OFAC sanctions list.
The FIOD added that this service and the Financial Advanced Cyber Team (FACT) started a criminal investigation against Tornado Cash this past June.
"It is suspected that persons behind this organization have made large-scale profits," the FIOD added.
Tornado Cash is a virtual currency mixer that operates on the Ethereum (ETH) blockchain and facilitates anonymous transactions by obfuscating their origin, destination, and counterparties, thus increasing privacy of its users. Tornado mixes transactions before transmitting them to...
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