The U.S. Treasury Department’s Office of Foreign Assets Control on Monday sanctioned Tornado Cash, which allows users to conduct private crypto transactions. As a result, Tornado Cash’s property and interests in property in the U.S. will be blocked, according to a statement by the Treasury Department Monday. The platform has been used to launder more than $7 billion worth of cryptocurrencies since its creation in 2019, including $455 million stolen by the Lazarus Group, a North Korean state-sponsored hacking group, according to the statement. Tornado Cash was also allegedly used to launder more than $96 million in the hack on Harmony blockchain’s Horizon bridge in June and over $7.8 million from the exploit against Nomad bridge earlier this month, the Treasury department said.
Source: Marketwatch
