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Tag Archives: Tornado Cash

Tornado Cash Co-Founder Freed on Bail

Roman Storm – one of the co-founders of the crypto mixer Tornado Cash – is no longer detained, currently being out on bail. The US authorities arrested the individual earlier this week over allegations that his entity facilitated money laundering operations and was involved with the North Korean hacking collective – the Lazarus Group. ‘Disappointed With the Arrest’ Roman Storm’s attorney – Brian Klein – revealed that his client is out on bail (without disclosing the amount of...

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Tornado Cash Co-founders Charged with Money Laundering Violations, Arrested by FBI

CoinspeakerTornado Cash Co-founders Charged with Money Laundering Violations, Arrested by FBI The US Treasury Department noted that even after Tornado Cash founders knew that the Lazarus Group was using the crypto mixer to launder funds, they continued offering hem the services. Tornado Cash Co-founders Charged with Money Laundering Violations, Arrested by FBI

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Coin Center and Blockchain Association Fight Tornado Cash Crypto Sanctions

The Blockchain Association has filed an amicus brief in a lawsuit filed by the think tank Coin Center against the Treasury Department and the Office of Foreign Asset Control. The brief has to do with the latter two agencies’ sanctions against crypto mixer Tornado Cash. Tornado Cash Has Some Soldiers Fighting for It Last year, sanctions were filed against Tornado Cash after it was alleged that the tool had been used to launder crypto funds garnered by bad actors in...

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Crypto Hack Decline in Q1 2023: Temporary Relief or Calm before Storm

Despite a decline in crypto hacks in Q1 2023, the article warns that it is likely a temporary break before a potential surge in attacks. Crypto hacks significantly decreased during Q1 2023 compared to 2022, according to a report by blockchain intelligence company TRM Labs. According to the TRM Labs study reported by Cointelegraph, the amount stolen in cryptocurrencies dropped dramatically from nearly $30 million to less than $11 million compared to the quarters of 2022. “The average...

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Tornado Cash Developer Will Finally Be Released From Jail: Report

Alexey Pertsev, the developer of crypto privacy mixer Tornado Cash, will be released from jail next week and await trial at home, according to a report from Blockworks.  The news reportedly comes from Eléonore Blanc, Pertsev’s wife, who claimed over Telegram that the developer would be coming home next week.  Pertsev was arrested in Amsterdam in August 2022 shortly after the Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned Tornado Cash, creating...

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Stablecoins Worth $600k From 2021 DAO Maker Hack Sent Via Tornado Cash

Tornado Cash has, once again, found itself as the nexus of pilfered funds from a DeFi protocol. An Ethereum wallet address associated with the exploiter of the DAO Maker breach from 2021 sent $600,000 worth of DAI stablecoin through the controversial coin mixer. According to the blockchain security firm, PeckShield, the wallet had been dormant for more than 200 days. The movement was detected nearly seven months after another wallet linked with the exploiter transferred...

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Coinbase Backs New Filing in Support of Tornado Cash

According to the case filed on April 5 in a Texas District Court, the plaintiffs, with support from Coinbase, want the OFAC to settle the first two counts from its original complaint, which was filed last September. Popular public listed exchange Coinbase is supporting the new class that seeks a reversal of the Tornado Cash ban. With this, the US Treasury is faced with a renewed legal case targeted at its move to sanction the crypto mixer. The motion to remove the Tornado Cash ban was...

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Interaction Detected Between Wallet Tied to Euler Finance Exploiter and North Korea’s Lazarus Group

On-chain analyst Lookonchain detected an address tied to the exploiter of the Ethereum-based lending protocol sent 100 Ether (approximately $171,700) to a wallet associated with Lazarus Group’s mammoth Ronin network hack. While it is still unclear if the Euler exploiter is affiliated with the North Korean state-sponsored cyber threat group linked to the North Korean Reconnaissance General Bureau (RGB), the interaction is peculiar as many community members had previously...

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Lendhub Exploiter Moves Proceeds to TornadoCash

Lendhub, a relatively small cross-chain crypto lending platform operating on HECO, was exploited to the tune of $6 million dollars earlier this January. Attack Possible Solely Due to Poor Coding The attack was carried out due to a poorly-executed removal of a deprecated IBSV cToken. Its replacement, which was already active, had an identical price point at the time, which allowed the unknown bad actor to manipulate the pricing and drain around $6 million worth of crypto from...

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Vitalik Buterin Weighs in on Stealth Address to Bring Privacy to Blockchain Transactions

Privacy tools have always been heralded as a key to financial freedom in the crypto industry. In the Ethereum ecosystem, discussions surrounding the subject matter have revolved mostly around privacy-preserving transfers of ETH and mainstream ERC20 tokens. In a bid to improve the state of privacy on the network, its co-founder Vitalik Buterin has proposed a stealth address system. “Last Remaining Challenge for Ethereum” The concept of Stealth addresses using elliptic curve...

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