Tornado Cash Has Reportedly Laundered More than $7B Worth of Virtual Currency

Aug 09,2022
KingData News: Since its creation back in 2019, Tornado Cash has reportedly laundered more than $7 billion worth of virtual currency. “Treasury will continue to aggressively pursue actions against mixers that launder virtual currency for criminals and those who assist them,”said Brian E. Nelson, deputy secretary of the U.S. Treasury Department. Ari Redbord, head of legal and government affairs at analytics firm TRM Labs, said that the move is the Treasury Department’s “largest, most impactful action” in crypto to date.
Recently, the U.S. Treasury Department placed Tornado Cash on its sanctions list, which prohibits U.S. citizens from using. This indicator provides market updates on Tornado Cash sanctions.