Tornado Cash sanctions
Contents
Tornado Cash sanctions
Merkle Science
- Introduction
- What are Coin Mixers?
- What is Tornado Cash and How Does it Work?
- How Does Tornado Cash Carry out the Process of Obfuscation
- How was Tornado Cash Used for Illicit Activities
- What do the Tornado Cash Sanctions Mean?
- How can Merkle Science Help?
Introduction
Tornado Cash, one of the most widely used coin-mixing applications, was sanctioned by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on August 8, 2022, for allegedly helping North Korean hackers launder billions of dollars of user’s funds. With this, the US government has now prohibited the use of Tornado Cash and has barred all US citizens and businesses from making any further interaction with the protocol.
Since its inception in 2019, Tornado Cash is estimated to be used for laundering more than $7 billion dollars worth of digital assets. The laundered assets include over $450 million stolen by North …
Merkle Science
- Introduction
- What are Coin Mixers?
- What is Tornado Cash and How Does it Work?
- How Does Tornado Cash Carry out the Process of Obfuscation
- How was Tornado Cash Used for Illicit Activities
- What do the Tornado Cash Sanctions Mean?
- How can Merkle Science Help?
Introduction
Tornado Cash, one of the most widely used coin-mixing applications, was sanctioned by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on August 8, 2022, for allegedly helping North Korean hackers launder billions of dollars of user’s funds. With this, the US government has now prohibited the use of Tornado Cash and has barred all US citizens and businesses from making any further interaction with the protocol.
Since its inception in 2019, Tornado Cash is estimated to be used for laundering more than $7 billion dollars worth of digital assets. The laundered assets include over $450 million stolen by North …
IoC
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https://home.treasury.gov/policy-issues/financial-sanctions/ofac-license-application-page
https://home.treasury.gov/policy-issues/financial-sanctions/ofac-license-application-page