US imposes sanctions on cryptocurrency mixer that allegedly laundered over $7 billion

August 8, 2022

Tornado Cash runs on the Ethereum blockchain. Officials said the mixer played a role in other large-scale thefts, including the Harmony Bridge heist (where it laundered $96 million) from June and this month’s Nomad attack (involving “at least” $7.8 million).

The government has taken legal action against crypto mixers for years. Federal law enforcement charged an Ohio man in 2020 for running a darknet mixer that helped criminals launder $300 million. The Treasury only started sanctioning mixers when it blocked Blender this May, however. The US now believes criminal-friendly mixers are a national security threat, and hopes efforts like these will curb both terrorism as well as attempts to dodge conventional sanctions.

https://finance.yahoo.com/news/us-treasury-tornado-cash-cryptocurrency-mixer-sanctions-170017864.html

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