August 15, 2022: -On Friday, Dutch sources said that they had arrested a man aged 29, considered to be a creator of the crypto mixing service Tornado Cash, which the U.S put on its sanctions list this week.
On Wednesday, the U.S. sanctions announced allegations that Tornado Cash is helping conceal billions in capital flows, including for North Korean hackers.
By cryptocurrencies mix up, the online service is making it possible to conceal the origin or destination of digital payments, increasing their anonymity.
Tornado Cash is one of the giant crypto blenders recognized as problematic by the U.S. Treasury.
The Dutch public prosecutor’s office for serious fraud, environmental crime, and asset confiscation said that Tornado was suspected of having laundered over $7 billion of virtual currency since it was created in 2019.
The FIOD stated that the man arrested in Amsterdam on Wednesday was not identified. He is thought to have helped facilitate illegal transactions, including “funds stolen through hacks by a group believed to be associated with North Korea.” He encounters money laundering charges.
In June, the Financial Advanced Cyber Team division of the FIOD started a criminal investigation into Tornado Cash, the statement said. It found Tornado Cash had been used to conceal large-scale illegal money flows, including the thefts of cryptocurrencies online. Further arrests have not been ruled out, prosecutors said.
Monday’s action froze any U.S. assets of the crypto mixer and generally barred Americans from trading with it.
Corporate leaders are often tested by crises that threaten the very foundation of their organizations. How do these leaders navigate turbulent …
In the vast and often tumultuous seas of corporate leadership, have you ever wondered how some captains …
In the high-stakes game of corporate leadership, where every decision reverberates through the echelons ….
In the corporate landscape, where conformity often reigns supreme, what if I told you that rebels aren’t troublemakers but …
In the corporate landscape, where conformity often reigns supreme, what if I told you that rebels aren’t troublemakers but …
As the storm of the pandemic begins to subside, corporate leaders face a landscape that has forever changed. The question …
The semiconductor industry is experiencing a resurgence, with chip stocks demonstrating strong potential for continued …
Best Real Cash On The Internet Casinos Canada Top Rated 15 In 2024 Top 10 Internet Gambling Canada Sites For True Money In 2024 Content
Goldman Sachs has issued a positive outlook on Chinese equities, projecting a potential upside up to 18% from current levels. The investment …
A growing rift has emerged between UK banks and technology companies over the allocation of liability for online …
Leave us a message
Subscribe
Fill the form our team will contact you
Advertise with us
Fill the form our team will contact you
