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Developer Arrested Following OFAC Sanctions of the Tornado Cash Protocol


On Aug. 10, 2022, just days after OFAC issued sanctions against virtual currency mixer Tornado Cash, Dutch authorities arrested the protocol’s alleged developer. In a press release, the Treasury Department alleged that since 2019, Tornado Cash had been used to launder more than $7 billion in cryptocurrency, including more than $455 million stolen in the largest decentralized finance (DeFi) hack to date, on the Ronin Network, carried out by the North Korean-backed cybercrime syndicate the Lazarus Group. Dutch authorities have not released the identity of the developer and have not ruled out the possibility of further arrests related to Tornado Cash.

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