Tornado Cash: A Storm of Sanctions Lifted Amid Crypto Chaos
The U.S. Treasury has removed sanctions against Tornado Cash, a cryptocurrency mixer previously used by North Korean hackers for laundering stolen funds. While Tornado Cash founders face charges, the Treasury remains focused on disrupting cybercriminal activities to ensure digital assets are secure from exploitation by North Korea and other illicit actors.
Hot Take:
Oh, Tornado Cash, you whirlwind of trouble! The U.S. Treasury has decided to lift the sanctions on this crypto blender, which has been shaking up North Korean hackers’ funds like a martini. But just because they’re off the naughty list for now doesn’t mean the plot isn’t still as thick as a blockchain ledger!
Key Points:
- The U.S. Treasury removed sanctions on Tornado Cash, previously used by North Korean hackers to launder stolen crypto.
- Originally sanctioned for laundering over $7 billion since its inception.
- Involved in laundering millions from several high-profile crypto heists, including Ronin, Nomad, and Harmony Bridge hacks.
- Tornado Cash founders charged and sanctioned for aiding criminals in laundering over $1 billion.
- North Korean hacking group Lazarus linked to multiple massive crypto thefts, funding illicit activities like missile programs.
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