Tornado Cash sanction to have a chilling effect on the crypto industry– Ran Neuner and Steven Sidley

Business News News

Tornado Cash sanction to have a chilling effect on the crypto industry– Ran Neuner and Steven Sidley
Business Business Latest News,Business Business Headlines

Cryptocurrencies Tornado Cash sanction to have a chilling effect on the crypto industry– Ran Neuner and Steven Sidley

  • 📰 KitcoNewsNOW
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 78%

The U.S. Treasury Department recently sanctioned the cryptocurrency mixer Tornado Cash over allegations that it was being used to launder money. The departmented claims, among other allegations, that North Korean hackers used Tornado Cash to steal over $455 million.

“We all put our money into [a mixer],” Neuner explained. “And when you want to take money out of it, it pays it out of a central Tornado Cash address. So what it does is to eliminate the traceability of money.” Arrest of Developer Dutch authorities arrested Tornado Cash developer Alex Pertsev on August 10th, in connection with the U.S. government’s sanction on the protocol.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

KitcoNewsNOW /  🏆 13. in BUSİNESS
 

Why are you inviting scammers to your streams?! Inviting Neuner must be the lowest you can go...

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

How the smart money bought oil and gas stocks in Q2How the smart money bought oil and gas stocks in Q2The quarter also saw many energy companies promising to return more cash flow to shareholders, and announcing progress on debt targets From jefflagerquist
Read more »



Render Time: 2025-01-16 11:21:51