Tornado Cash DAO Disappears Without Previous Notice
✍️ 13 August, 2022 - 13:27 👤 Editor: Jakub Motyka
- In the midst of a discussion about ways to defy OFAC sanctions, Tornado Cash DAO disappears without explanation.
- Various market entities of cryptocurrencies have taken action against the platform.
- The Dutch authorities announced the arrest of an alleged developer of Tornado Cash.
Tornado Cash DAO has closed its doors without notice, at a time when its community was discussing ways to challenge the sanctions imposed by the Office of Foreign Assets Control (OFAC) of the Department of the Treasury from USA. This, after various platforms such as Circle, dYdX, Alchemi, Infura and Github, will take action against the controversial cryptocurrency mixer.
According to users on social networks, Tornado Cash DAO was in the middle of a discussion about the future of the platform. The community unanimously approved adding their governance layer as a signatory to their treasury's multisig wallet, which manages nearly $21 million. However, the platform disappeared after this.
How Have OFAC Sanctions Affected Tornado Cash?
Remember that Tornado Cash is a platform specially designed to provide privacy to its users within the blockchain. Through a series of processes, it allows breaking the link between the issuing and receiving wallet of funds. For this reason, it is a favorite of hackers who want to launder stolen capital.
Desde el anuncio de las sanciones de la OFAC to different addresses associated with Tornado Cash, Circle proceeded to freeze the funds in USDC of the indicated wallets. In turn, dYdX blocked the account of some users linked to the platform, and Alchemy and Infura disabled calls to the mixer. Github, meanwhile, decided to shut down the Tornado co-founder's personal account, and Discord removed his official channel.
Meanwhile, authorities in the Netherlands announced the arrest of a developer allegedly involved in programming the Tornado Cash mixer. The Dutch Tax Information and Investigation Service does not rule out more arrests while the investigation remains open.
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