500,000 DAI From DAO Maker Exploit Was Sent Through Tornado Cash, Security Analysts Report

On September 8, the crypto security and smart contract auditing firm Certik revealed that 500,000 DAI was sent through the Tornado Cash mixing platform after the funds were stolen in August 2021.

Timeline of Dao-maker, Torn

Tornado Cash users haven't given up on the fight against the sanction placed on the digital currency mixing protocol by the US authorities. CNBC reported Thursday that leading cryptocurrency exchange, Coinbase has jumped into the matter and pledged to finance a recent lawsuit against the Treasury Department over the suspension of Tornado Cash.

Last month, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) applied sanctions to Tornado Cash, a crypto mixing platform. The second sanctions hitting a mixer, the enforcement action is still the first of its kind as the code running Tornado.

Coinbase has bankrolled a lawsuit filed against the U.S. Treasury Department and other government officials over the decision to impose sanctions on the crypto mixing tool.  Government Department Sued By Users  The lawsuit, filed by six Tornado Cash users, has named Treasury Secretary Janet Yellen and other individual government officials, along with the Treasury Department, over their decision to sanction the crypto mixing tool back in August.

The U.S. Treasury Department's move to blindly put a ban on Tornado Cash consequently brought a lawsuit against Treasury Secretary Jannet Yellen and other officials of its departments. The six affected users, which got into trouble due to the restrictions on the privacy tool, have challenged the U.S.

According to PeckShield, $500,000 in Dai has been moved through Tornado Cash–a crypto mixer–indicating that it may be the source of stolen tokens from a decentralized finance (Defi) protocol. In simpler terms, crypto mixers make it more difficult to figure out where a token is going. This makes it harder for anyone to track.

An Ethereum address connected to last year's hack of DAO Maker has laundered 500,000 DAI stablecoin through Tornado Cash, two security firms said. The post Tornado Cash used to launder $500,000 stolen from DAO Maker last year: security firms appeared first on The Block.

Cryptocurrency exchange Coinbase Global Inc (NASDAQ: COIN) is funding a lawsuit against the U.S. Treasury Department for its sanctions against coin mixer Tornado Cash (CRYPTO: TORN), as per a report from CNBC. What Happened: The lawsuit was filed by six plaintiffs, including Coinbase employees, and argues that the sanctions against the decentralized privacy protocol were an overstep by the Treasury's Office of Foreign Assets Control (OFAC) and asks that the platform's smart contracts be removed from the sanctions list.

Cryptocurrency mixer Tornado Cash was blacklisted by the U.S. Department of Treasury, prohibiting Americans from using a business that the agency claims ‘launders the profits of cybercrimes.

Coinbase is supporting a lawsuit against sanctioning an Ethereum-based crypto mixer, Tornado Cash. The post Coinbase to Finance User's Lawsuit Against Treasury Department for Tornado Cash Sanctions appeared first on BeInCrypto.

Coinbase is financing a lawsuit filed against the US Treasury Department by six users of sanctioned crypto protocol Tornado Cash, CNBC reported on September 8. The post Coinbase finances Tornado Cash users' lawsuit against US Treasury Department appeared first on CryptoSlate.