SlowMist claims 75% of laundered ETH goes to Tornado Cash
Tornado Cash has become a well-liked medium for money laundering as a result of the rapidly rising occurrences throughout Ethereum and BSC. With an upward trend and rapidly rising events on Ethereum and the Binance Smart Chain, Tornado Cash has become a well-liked platform for money laundering. A significant chunk of the illicit earnings has […]
Tornado Cash ban spells disaster for Web3 privacy protocols
There are growing worries that the recent penalties imposed by the US government on Tornado Cash could create a “slippery slope” for Web3 privacy and ultimately render the medium “meaningless.” Shumo Chu, co-founder of the privacy protocol Manta Network, voiced concerns about the severe penalties against Tornado Cash would have a ripple impact on other […]
Restriction on Tornado Cash disastrous for other privacy protocols
In particular, Web3 technologies that provide privacy on the blockchain may be impacted by the U.S. ban on Tornado Cash. There are growing worries that the recent sanctions imposed by the US government against Tornado Cash could create a “slippery slope” for Web3 privacy and ultimately render the medium “meaningless.” The co-founder of the privacy […]
Sanctions against Tornado Cash may be contested by Coin Center
According to Jerry Brito and Peter Van Valkenburgh of Coin Center, OFAC abuses its statutory jurisdiction by treating autonomous code like a person. The US-based crypto policy advocacy group Coin Center said it intended to “pursue administrative remedies” for anybody affected by the restrictions placed on Tornado Cash by the Office of Foreign Asset Control, […]
O’Leary: Giving up Tornado Cash for institutional adoption worth it
According to Mr. Wonderful. more regulation is needed for crypto and “crypto cowboys” like Alexey Pertsev, the developer of Tornado Cash, should be sacrificed to bring stability to institutional inflows. Shark Tank host and millionaire venture capitalist Kevin O’Leary said that Tornado Cash and similar services are blocking real institutional money from entering the industry, […]