Recently, the United States Department of Treasury’s Office of Asset Control (OFAC) added the tornado cash protocol to the sanctioned entities list. OFAC claims that tornado cash has been used to launder more than $ 7 billion of cryptocurrency assets since its creation, including $455 million stolen by the Lazarus Group, a Democratic People’s Republic of Korea (DPRK) state-sponsored hacking group that the U.S. sanctioned in 2019. According to OFAC, the hackers subsequently used Tornado Cash to launder more than $96 million of malicious cyber actors’ funds derived from the June 24, 2022, Harmony Bridge Heist, and at least $7.8 million from the August 2, 2022, Nomad Heist. As a result, OFAC added tornado cash and several related addresses to the
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The Tornado Cash Saga — What are the…
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Recently, the United States Department of Treasury’s Office of Asset Control (OFAC) added the tornado cash protocol to the sanctioned entities list. OFAC claims that tornado cash has been used to launder more than $ 7 billion of cryptocurrency assets since its creation, including $455 million stolen by the Lazarus Group, a Democratic People’s Republic of Korea (DPRK) state-sponsored hacking group that the U.S. sanctioned in 2019. According to OFAC, the hackers subsequently used Tornado Cash to launder more than $96 million of malicious cyber actors’ funds derived from the June 24, 2022, Harmony Bridge Heist, and at least $7.8 million from the August 2, 2022, Nomad Heist. As a result, OFAC added tornado cash and several related addresses to the