US Treasury sanctions cryptocurrency mixer Tornado Cash
The US Treasury is sanctioning Tornado Cash, a cryptocurrency mixing service that allows users to obscure the details of transactions.
The regulator has added Tornado Cash and 44 associated ether and USDC wallets to its Specially Designated Nationals List, according to an August 8 announcement from the Treasury’s Office of Foreign Asset Control.
The SDN list bars US persons and firms looking to operate in the US from financial interactions with designated entities. In May, OFAC added Blender.io, its first designation of a crypto mixer.
Despite barring SDN-designated crypto wallets from its front end in April, Tornado Cash’s association with high-profile hacks like Ronin and Harmony continued to draw the Treasury’s ire, particularly given that the Treasury has identified several as going to profit North Korea’s Lazarus Group.
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Author: Kollen Post
