The US Department of Treasury collapsed in the cryptocurrency mixer Tornado from the list of penalties, the agency said on March 21.
Removal follows a January ruled by an appeal court in the US.
According to January Court’s decision, “The unchanged intelligent contract of Tornado Cash (Privacy-powered software code lines are not the ‘owned’ of a foreign national or creature, which means (…) ofac overstepped this specified authority.”
On a March 21 statementThe Treasury said OFAC has removed several dozen screws related to intelligent contracts with the Ethereum blockchain network from its penalties list.
Tornado’s native token, Tornado Cash (Torn), reached nearly 60% in the news, according to Data From CoinMarketCap.
Until March 21, the torn had a market capitalization of around $ 73 million and a fully melted amount (FDV) of nearly $ 140 million, data was displayed.
OFAC is the Treasury office for the administration of economic and trade penalties in states and foreign nationalities.
Tornado Cash allows users of the Pool Crypto deposit to a mixer and then recover it later at different purse addresses, making it difficult to monitor the original funding source.
The slit reached around 60% in the news. Source: CoinMarketCap
Related: Tornado Cash Dev Alexey Pertsev’s Bail A ‘Cricial Step’ in Taking Fair Test, Defense says
Money laundering allegations
In August 2022, OFAC punished Tornado Cash after announcing the blockchain protocol to assist the cryptocurrency launder stolen by the Lazarus Group, a North Korean hacking substance.
The Lazarus Group is said to have steal billions of dollars in crypto by various cyberattacks.
In February, Lazarus was accused Pilfering $ 1.4 billion from Digital Asset Exchange Bybit to the largest-ever exploitation of crypto.
In total, Tornado Cash has purportedly facilitated the launch of more than $ 7 billion in forbidden funds since the launch of the 2019 protocol, according to the US Treasury.
In 2024, a Dutch court Alexey Pertsev, one of the developers of Tornado Cash, found that money losses and punished him 64 months in prison.
In February, Pertsev was released at home arrestAs he prepares an appeal for his conviction.
The Ethereum Foundation is Promised to give $ 1.25 million For Persev’s defense.
“Privacy is normal, and writing the code is not a crime,” the EF write In an X post while the donation was announced in Feb. 26.
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