Tornado Cash, a cryptocurrency mixer that North Korean Lazarus hackers used to launder hundreds of millions of dollars taken in many cryptocurrency heists, has had its sanctions lifted, the U.S. Department of Treasury stated today.
In August 2022, Tornado Cash was sanctioned by the Department’s Office of Foreign Assets Control (OFAC) for aiding in the laundering of more than $7 billion since its founding in 2019.
However, a Fifth Circuit U.S. federal appeals court decided on November 26, 2024, that OFAC “overstepped its congressionally defined authority” when it sanctioned the crypto mixer, according to a court filing from Monday that was cited in today’s press release.
When OFAC added Tornado Cash to its list of Specially Designated National and Blocked Persons (SDNs), it stated that the hacker collective Lazarus from North Korea read more about US removes sanctions against Tornado Cash crypto mixer.
Get up to date on the latest cybersecurity news and enhance your knowledge of cybersecurity with our thorough coverage of the dangers, breaches, and solutions.