US Government Bans Ethereum Mixer Tornado Cash , Platform Added to OFAC’s SDN List

On Monday, the U.S. Treasury Department’s watchdog the workplace of Foreign plus management (OFAC) prohibited the ethereum admixture application Tornado money. OFAC has cited that the mixer has helped North Korean hackers like the hacking syndicate referred to as Lazarus Group.

OFAC Sanctions Tornado Cash mixing App

• OFAC has formally prohibited the Tornado money and Tornado money Classic websites aboard all of the digital currency addresses allegedly related to the site.
• “The following entity has been supplementary to OFAC’s SDN list: Tornado money,” OFAC’s Cyber-related Designation report says.
• The U.S. The Treasury Department’s watchdog mentioned dozens of addresses that have controlled usd coin (USDC) or ethereum (ETH).
• With OFAC adding Tornado money and also the ETH addresses allegedly tied to the platform, it implies that all U.S. persons and business entities are strictly prohibited from using the mixer.
• Since 2020, the U.S. has enacted legislation which will punish any U.S. persons or entities that violate the Specially selected Nationals list. Anyone who breaks the rule will face jail time and a place between $90,000 to $308,000 per violation.
• The news follows the recent Debridge Finance announcement once the project’s co-founder Alex Smirnov’s aforementioned Debridge’s team was attacked by the infamous North Korean hacking syndicate Lazarus Group.
• Additionally, in 2022, the previous Ethereum developer poet filmmaker was sentenced to 5 years and 3 months in jail for a presentation that gave Democratic People’s Republic of Korea ““technical recommendation on victimization cryptocurrency and blockchain technology to evade sanctions.”
• OFAC has already added many crypto addresses to the SDN list back in Apr. The U.S. watchdog jointly assumed that the recent Ronin bridge attack (Axie Infinity) was connected to the hackers from Lazarus Group.

The post US Government Bans Ethereum Mixer Tornado Cash , Platform Added to OFAC’s SDN List first appeared on BTC Wires.

Credit: Source link