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Tornado Cash Laundering

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Tornado Cash Laundering

B
Benzinga

10 Views • Aug 24, 2023

Description

Two co-founders of the popular cryptocurrency platform Tornado Cash have been charged with running a money laundering scheme worth hundreds of millions of dollars. The scheme allegedly used the crypto mixer to launder over $1 billion, a significant amount going to a North Korean cybercrime organization. The US Treasury has sanctioned one of the co-founders, and a third co-founder was previously arrested on money laundering charges. If convicted, the two co-founders could face up to 20 years in prison.