Tuesday, September 26, 2023
HomeEthereumEthereum’s top mixing protocol Tornado Cash Re-Sanctioned

Ethereum’s top mixing protocol Tornado Cash Re-Sanctioned

The U.S. Treasury Department expanded The company said it would approve cryptocurrency mixing service Tornado Cash for allegedly supporting North Korea, despite complaints from users that the Treasury Department is only focusing on the service and not the organization. Claims. North Korea’s weapons of mass destruction program openly claims to be supported by the use of crypto-mixing services.

Treasury Department foreign assets in response to allegations that North Korea used Tornado Cash to launder more than $100 million in cryptocurrency to fund its weapons of mass destruction program, including the development of ballistic missiles. The Office of Administration (OFAC) has announced that it will delist and redesignate North Korea. privacy tools.keeper of sanctions first time It was designated as a Tornado Cache in August of this year.

The move follows a number of recent North Korean ballistic missile launches, which clearly violate a number of UN Security Council resolutions, according to a Treasury Department press release.

“This action is part of the United States’ continued efforts to limit North Korea’s ability to pursue illegal weapons of mass destruction (WMD) and ballistic missile programs that threaten regional stability.”

Release said.

A representative from the Ministry of Finance claimed that it was showing support for the service to the North Korean government.

Treasury sanctions on Tornado cash questioned

The Treasury Department also imposed sanctions on two individuals linked to Air Koryo, North Korea’s national airline. Both measures are part of efforts to stop funding North Korea’s nuclear program. even if they are not directly related.

According to a September update, the Treasury Department’s FAQ page states that Tornado Cash developers, founders, DAO members and users are not subject to sanctions. Instead, the sanctions prevent anyone from using Tornado Cash by blocking access to the project’s website and crypto addresses.

The public has criticized the project’s sanctions, and there are current initiatives against the program.To do this, Coincenter sued the Ministry of Finance support from coin base.

Tornado Cash is still in operation today, with approximately $200 million in total locked. Since Coin Mixer is a decentralized application, authorities cannot block transactions immediately.

However, the decision was controversial, with some claiming that Tornado Cash is a suite of software rather than an organization.

In a complaint filed this year, six Tornado Cash users in Texas allege that financial authorities exceeded their authority by inadvertently restricting access to computer code.

“Tornado Cash is not an individual, entity, or organization. It is a decentralized open source software project that restores some degree of privacy to Ethereum users.”

the lawsuit said.

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