The US Treasury has sanctioned Tornado Cash, a virtual currency mixer, for its use by cybercriminals, including those under US sanctions. The sanctions will prohibit US persons, and those subject to US jurisdiction, from using the virtual currency mixer.
According to a senior Treasury official, Tornado Cash has reportedly laundered more than $7 billion in virtual currency since its launch in 2019, including $455 million from the Lazarus Group, a North Korean state-sponsored hacking group. It was also used as recently as last week to launder money from a "heist" of Nomad, a US cryptocurrency firm, the official said.
The Treasury official said Tornado Cash had been previously identified as an entity of concern, but declined to say for how long and where the organization may be based or what individuals may be operating it.
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