U.S. Treasury Sanctions Notorious Virtual Currency Mixer Tornado Cash

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned virtual currency mixer Tornado Cash for facilitating money laundering and enabling hacking groups to launder stolen funds. Tornado Cash has been used to launder over $7 billion worth of virtual currency since its creation in 2019, including funds from the Lazarus Group, a North Korean state-sponsored hacking group. This sanction aims to combat illicit financial activities and protect U.S. national security by targeting mixers that help criminals hide their transactions.