‘Dangerous' precedent: crypto execs slam arrest of suspected Tornado Cash developer

Crypto execs said the arrest of a suspected Tornado Cash developer may have ‘huge consequences' for the industry. The post ‘Dangerous' precedent: crypto execs slam arrest of suspected Tornado Cash developer appeared first on The Block.

Timeline of Torn

The Tornado Cash DAO has voted to add its governance to the multisig set of its treasury wallet over arrests and de-platforming fears. The post Tornado Cash DAO votes to take partial control over treasury funds appeared first on The Block.

According to a statement from the Dutch Fiscal Information and Investigation Service (FIOD), law enforcement officials in Amsterdam arrested an unnamed 29-year-old suspected of developing the ethereum mixing application Tornado Cash. FIOD accuses the suspect of “concealing criminal financial flows and facilitating money laundering through the mixing of cryptocurrencies.

Tornado Cash's Discord server has been removed following the imposition of US Treasury sanctions against the protocol. The post Tornado Cash's Discord server and governance forum shuttered amid arrest appeared first on The Block.

Dutch authorities on Friday said they had arrested a 29-year-old man believed to be a developer for the crypto mixing service Tornado Cash, which the United States put on its sanctions list this week.

The U.S. Treasury Department recently blacklisted the use of Tornado Cash, an open source project that allows users to hide their transactions. They claim Tornado has been used by North Korean hackers to launder over $7 billion in stolen cryptocurrency since 2019.

Authorities in the Netherlands collared a man suspected to be a Tornado Cash developer in Amsterdam on Wednesday. The Fiscal Information and Investigation Service said that the unidentified 29-year-old man was reportedly involved in money laundering via the decentralized Ethereum mixer Tornado Cash.

The Fiscal Information and Investigation Service (FIOD) of the Netherland announced that it has arrested the suspected developer of the Tornado Cash. Recently, a U.S agency launched sanctions over the crypto mixing platform.

The Tornado DAO is currently brainstorming ideas on how to fight the US Sanctions imposed on Tornado Cash. The post Tornado Cash DAO discusses legal avenues to challenge US sanctions appeared first on The Block.

Dutch authorities arrested an unnamed 29-year-old man suspected to be a Tornado Cash developer in Amsterdam on August 10. The post Netherland arrests suspected Tornado Cash developer appeared first on CryptoSlate.

In just about a week since the United States Treasury Department's Office of Foreign Assets Control (OFAC) placed a ban on the crypto mixer, Tornado Cash, the total deposits on the platform have plummeted remarkably.