2 years ago
The $15 cardinal successful ether (4,600 ETH) stolen from Singapore-based Crypto.com is presently being laundered via Tornado Cash, an Ethereum Mixer, according to on-chain data.
Tornado Cash is simply a ETH mixer protocol that promises to amended transaction privateness by obscuring the on-chain nexus betwixt the root and recipient of ether.
In a erstwhile connection to CoinDesk, the Financial Crimes Enforcement Network (FinCEN) said that mixers similar Tornado Cash whitethorn autumn nether the explanation of a wealth transmitter, and truthful person “obligations” acceptable by the Bank Secrecy Act (BSA).
Law enforcement has antecedently unopen down different mixers specified arsenic Bestmixer, which was raided by EU authorities successful 2019, and Helix, which was unopen down by the FBI successful 2021 for laundering Darknet funds.
Tornado Cash co-founder Roman Storm previously told CoinDesk successful an interrogation that the protocol works with regulators to assuage their fears. V2 of Tornado Cash includes a cryptographic enactment successful the transaction past of ether nonstop done its pipes that tin beryllium utilized to find money provenance.
“We are successful a small spot of a antithetic concern [than different mixer wallets]. I deliberation for america it’s precise important to go compliant,” Storm antecedently told CoinDesk. “We bash what we consciousness is right.”
Tornado Cash’s TORN token is up astir 9% during the Asia trading time to $33.31, according to CoinGecko.
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