dYdX confirms blocking (and unblocking) some accounts linked to Tornado Cash
The platform said it has used compliance vendors to scan for and flag accounts potentially associated with illicit activities, including sanctions lists for many countries. Cryptocurrency derivatives trading platform dYdX said it blocked some users’ accounts with funds linked to Tornado Cash, including mistakenly suspending some that never directly engaged with the controversial mixer.In a Wednesday blog post, dYdX said it had “unbanned certain accounts” that the derivatives platform had blocked in response to the Office of Foreign Assets Control of the United States Treasury Department....
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Github, Circle, dYdX, Alchemy, and Infura... All platforms have taken action against Tornado Cash or individuals connected to the mixer following U.S. sanctions. The Tornado Cash DAO went offline after many social media users reported the community discussing ways to challenge sanctions recently imposed by the United States Treasury Department’s Office of Foreign Asset Control.At the time of publication, the Tornado Cash DAO was offline reportedly following a discussion in which community members voted unanimously to add its governance layer as a signatory to its treasury’s multisig....
According to the project’s official Twitter account, Tornado Cash, the ethereum mixing service that allows participants to shuffle ether, is blocking flagged ethereum addresses listed on the Office of Foreign Assets Control’s (OFAC) Specially Designated Nationals And Blocked Persons list (SDN). The decision follows the recent OFAC update, that lists the Ronin exploiter’s ethereum address, and further notes that the ether wallet is allegedly associated with the infamous North Korean hackers, Lazarus Group.
Ethereum Mixer Tornado Cash Blocks OFAC Sanctioned....
Tether's market capitalization has reversed a three-month downtrend while USDC sees a drop in value after the U.S. imposed sanctions against Tornado Cash. The market capitalization of Tether (USDT) tokens has increased by nearly $2 billion since the U.S. Treasury Department imposed sanctions on cryptocurrency mixer Tornado Cash.The Office of Foreign Asset Control essentially barred Americans from using Tornado Cash on Aug. 8, blacklisting 44 USD Coin (USDC) and Ether (ETH) addresses connected to the service to a list of Specially Designated Nationals and Blocked Persons (SDN).OFAC alleges....
Many DeFi exploits in the past have been linked to the popular crypto-mixing protocol. On Friday, Tornado Cash announced that it was using oracle contracts from Chainalysis to block wallet addresses sanctioned by the U.S. Office of Foreign Assets Control, or OFAC. The move comes after the U.S. Department of the Treasury linked North Korean cybercriminal Lazarus Group as an alleged perpetrator for the recent $600 million+ Ronin Bridge exploit. As told by blockchain analytics firm Elliptic, the hackers have sent approximately $80.3 million worth of Ether (ETH) through Tornado Cash.....
The Tornado Cash chronicle unfolds. Authorities in the Netherlands apprehended a man suspected to be a Tornado Cash developer in Amsterdam on Wednesday. The Fiscal Information and Investigation Service said that the unidentified 29-year-old man was reportedly involved in money laundering via the decentralized Ethereum mixer Tornado Cash. In the Netherlands, FIOD is the body […]