America’s largest cryptocurrency exchange is supporting a legal challenge against the U.S. Treasury Department following its sanctions against the privacy protocol Tornado Cash. The lawsuit’s plaintiffs include 6 individuals who have personally used the mixer, some of which include Coinbase employees. Defending Tornado’s Use Cases As reported by CNBC, Coinbase’s senior security risk analyst said...Read More
Tornado Cash was added to the US sanctions list by the Office of Foreign Asset Control (OFAC) on August 8. Two days later, Alexey Pertsev, a coder tied to the crypto mixing service, was arrested by Dutch authorities. The blacklisting and the subsequent events sparked an outcry from privacy proponents, with many protesting and engaging...Read More
Alexey Pertsev, developer of the U.S.-sanctioned Ethereum-based cryptocurrency mixer Tornado Cash, will have to spend a minimum of 90 days in jail, although he is yet to be charged with a crime. The arrest of the Tornado Cash developer has sparked outrage and concerns from the crypto community, which believes that such action could have...Read More
Tether – the issuer of USDT, the world’s largest stablecoin – is yet to freeze addresses associated with the privacy protocol Tornado Cash. That means USDT holders can still technically use the smart contract to obfuscate their funds. However, it remains unclear whether Tether’s permissiveness amounts to a violation of U.S. sanctions. Tether and Tornado...Read More
The US Office of Foreign Assets Control (OFAC)’s placement of popular crypto tumbler Tornado Cash as an entity on the Specially Designated Nationals (SDN) sanction list has raised many eyebrows. The subsequent removal of its source code from the Microsoft-owned GitHub, which also shut down the user accounts of three individuals who contributed code to...Read More
Tornado.Cash announced the launch of a new governance proposal wherein users will gain governance rights through the TORN Token. The Torn token is an ERC-20 compatible token with a fixed supply that governs Tornado.Cash. TORN holders can make proposals and vote to change the protocol via governance. However, the protocol stated that TORN is not...Read More
