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Tornado Cash

All articles tagged with #tornado cash

technology5 months ago

US DOJ Reverses Course on Dragonfly and Tornado Cash Investigations

The U.S. Department of Justice has retracted its previous statement suggesting it would charge crypto VC Dragonfly for supporting Tornado Cash, clarifying that Dragonfly is not a target of their investigation. This reversal follows Dragonfly's firm stance to defend its investment, amid concerns over potential implications for open-source software and privacy rights. The case has sparked broader debates about the treatment of crypto backers and privacy technology in the U.S.

via AMBCrypto|
#cryptocurrency#doj#dragonfly
cryptocurrency1 year ago

North Korea's Cryptocurrency Activities Raise Global Concerns

Reports suggest that North Korean hackers associated with the Lazarus Group exploited Ethereum through Tornado Cash and transferred 1 ETH to BlackRock, sparking speculation and raising concerns about potential illicit activities. Tornado Cash has faced increased scrutiny from US regulators, with the US Treasury Department targeting the software for its alleged role in facilitating cybercriminal activity. Despite the rebound in Ethereum's price, the motive behind the alleged transfer remains undisclosed, and BlackRock has not responded to the matter.

via Bitcoinist|
#blackrock#cryptocurrency#ethereum
cryptocurrency2 years ago

Crypto Chaos: Sam Bankman-Fried's Incarceration, Tornado Cash Turmoil, and $3B BTC

This week's Hodler's Digest highlights the charges pressed against the co-founders of Tornado Cash for money laundering and sanctions violations, with one co-founder arrested and another added to the U.S. list of Specially Designated Nationals and Blocked Persons. FTX founder Sam Bankman-Fried is reportedly struggling in prison, relying on a vegan diet of bread with peanut butter and running low on prescription medication. The identity of the mysterious Bitcoin wallet holding $3 billion has been revealed as Robinhood: Jump Trading Custody. The parent company of Prime Trust, a crypto custodian, reported losing $8 million in client and treasury funds through TerraUSD investments. Additionally, a Pepe holder seized the opportunity to buy $529,000 worth of tokens after a price drop.

via Cointelegraph|
#bitcoin-whale#cryptocurrency#pepe
crime2 years ago

Tornado Cash Founders Arrested for $1 Billion Money Laundering Scheme

The founders of Tornado Cash, a cryptocurrency mixer, have been charged with conspiracy to commit money laundering, conspiracy to commit sanctions violations, and conspiracy to operate an unlicensed money transmitting business. Roman Storm has been arrested in Washington state, while Roman Semenov remains at large. The indictment alleges that Tornado Cash facilitated over $1 billion in money laundering transactions and laundered hundreds of millions of dollars for the sanctioned North Korean cybercrime organization, Lazarus Group. The founders knowingly operated the service, despite being aware of its use by hackers and fraudsters to conceal the proceeds of their crimes.

via Department of Justice|
#crime#cryptocurrency#lazarus-group
cryptocurrency2 years ago

Tornado Cash DAO Attacked, TORN Token Slumps.

Tornado Cash's TORN token has surged by 10% after an attacker submitted a proposal to reverse the malicious changes made during a recent attack on the DAO's governance state. The attacker is reverting the TORN tokens they gave themselves, which gave them a controlling share of the governance votes, back to zero. The proposal is expected to pass when voting closes on May 26, and the governance of Tornado Cash's DAO will go back to token holders. However, there are concerns that this might be a "gigatroll" to depress the token's price and increase the attacker's holdings at a discount.

via CoinDesk|
#cryptocurrency#dao#defi
cryptocurrency2 years ago

Tornado Cash DAO Hacked, Token Value Drops 40%.

The DAO managing Tornado Cash was taken over by an unknown attacker who used a malicious proposal to gain fake votes and access to governance votes. The attacker withdrew 10,000 TORN tokens and sold them, causing TORN prices to drop by 40%. The attack did not affect the Tornado Cash protocol itself. The community is proposing solutions such as reverting changes made to the code or creating a new contract and airdropping new tokens to holders.

via CoinDesk|
#cryptocurrency#dao#smart-contracts
cryptocurrency2 years ago

Malicious proposal leads to Tornado Cash governance hijack.

An attacker gained full control of Tornado Cash governance through a malicious proposal, allowing them to withdraw all locked votes, drain all tokens in the governance contract, and brick the router. The attack highlights the importance of vetting proposal descriptions and logic. Tornado Cash's community developer confirmed the attack and requested all members to withdraw their funds locked in governance. The team is searching for Solidity developers to help save the protocol from extinction. A former Tornado Cash developer is reportedly building a new crypto mixing service from scratch to address the critical flaw existing in Tornado Cash.

via Cointelegraph|
#attack#crypto#cryptocurrency