Tag Archives: Tornado Cash

Tornado Cash developer Roman Storm has reportedly pleaded ‘not guilty,’ denying all charges related to money laundering exceeding $1 billion, including allegations connected to a cybercrime group associated with the North Korean government and violations of United States sanctions. Storm, who is a naturalized US citizen and the co-founder of the controversial coin mixer, was granted release on a $2 billion bond shortly after his arrest in August. Dev Pleads Not Guilty...

The North Korean government is said to sponsor hackers to steal digital assets and fund its military operations, with on-chain analysis suggesting they have siphoned over $2 billion since 2018. The Republic of Korea (South Korea) is reportedly working on a bill to track and seize digital assets stolen by hackers from North Korea. According to a local media outlet, the Korea JoongAng Daily, government sources have confirmed that the bill is in the pipeline in a bid to strengthen the...

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...

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

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...

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...

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...

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...

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...

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...