Is tornado cash used to launder virtual currency?

The Treasury Department said in a statement Monday that Tornado Cash has been used to launder more than $7bn worth of virtual currency since it was started in 2019.

Is tornado cash a good investment?

Tornado Cash was recently sanctioned by the US Department of Treasury. Privacy is a key objective of many crypto proponents. And it’s one of the features that makes the asset class attractive to some investors. If this principle can’t be guaranteed, some say crypto’s utility becomes questionable.

Was tornado cash hacked?

On August 8th, the popular Ethereum smart-contract mixer Tornado Cash was sanctioned by the U.S. Treasury’s Office of Foreign Assets Control (OFAC) for its role in laundering over $455 million worth of cryptocurrency stolen by the North Korean-linked hacking organization Lazarus Group.

Is tether blacklisting tornado cash accounts?

According to a Washington Post analysis of data from Dune Analytics, a crypto intelligence firm, Tether is not blacklisting accounts associated with Tornado Cash. So far, the U.S. government has not taken action.