The Dutch government agency responsible for investigating financial crimes said it has arrested an individual suspected of being a developer of the U.S.-sanctioned crypto mixing service Tornado Cash in a move that has rattled some crypto and privacy advocates.
The Fiscal Information and Investigation Service said Friday that the arrested 29-year-old man is suspected to be involved in “concealing criminal financial flows and facilitating money laundering” through the popular crypto mixing service.
“Multiple arrests are not ruled out,” it said. The agency added that it arrested the individual in Amsterdam.
The move comes days after the U.S. government sanctioned Tornado Cash — a service that allows users to mask their transactions by jumbling funds from different sources before sending them to the ultimate destination — for its role in enabling billions of dollars’ worth of cryptocurrency to be laundered through its platform.
Tornado Cash has been used to launder more than $7 billion...
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