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Tornado Cash integrates Chainalysis Oracle for financial crime prevention

 


The move comes shortly after the US Treasury Department identified North Korean hacking group Lazarus as the perpetrator of the recent $600 million hack of crypto project Ronin Bridge . According to blockchain security service Elliptic , the hackers laundered almost $80.3 million in Ether ( ETH ) via Tornado Cash. The Tornado Cash team emphasizes that "maintaining privacy in financial transactions is important to guarantee a fundamental freedom, but this must not come at the expense of the rule of law".


The move comes shortly after the US Treasury Department identified North Korean hacking group Lazarus as the perpetrator of the recent $600 million hack of crypto project Ronin Bridge . According to blockchain security service Elliptic , the hackers laundered almost $80.3 million in Ether ( ETH ) via Tornado Cash. The Tornado Cash team emphasizes that "maintaining privacy in financial transactions is important to guarantee a fundamental freedom, but this must not come at the expense of the rule of law".


Tornado Cash is a popular crypto mixer used by crypto investors to obfuscate transaction paths for greater privacy. The said Chainalysis Sanctions Oracle is now to verify whether wallets accessing the service are addresses affected by US, European Union (EU) or United Nations (UN) sanctions. Roman Semenov, one of the co-founders of the platform, clarifies that this step only prevents interaction with decentralized applications (DApps), and does not prevent the associated smart contract.


Tornado Cash has been implicated in a number of shady financial activities in the past, including the $375 million Wormhole exploit , which saw hackers also experimenting with Tornado Cash . In the same month, the mixer was also used to launder nearly $30 million in stolen crypto assets. Tornado Cash was also used in the course of a phishing attack in connection with non-fungible tokens (NFT).


Semenov no longer wants to be exposed to this criticism, and points out that in the worst case scenario, he and his development team could even face imprisonment if the mixing service doesn't follow the authorities' instructions as soon as possible.

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