Dutch authorities arrest alleged developer of Tornado Cash
The Dutch Tax Information and Investigation Service does not rule out multiple arrests in its ongoing criminal investigation against crypto mixer Tornado Cash.
, a Dutch agency responsible for investigating financial crimes, officially announced on Friday the arrest of a 29-year-old man in Amsterdam.</p>
<p>The man was allegedly involved in facilitating criminal financial flows and money laundering through the decentralized Ethereum mixer Tornado Cash, the authority said.</p>
<p>The FIOD stressed that it does not rule out multiple arrests in this case, noting that its Financial Advanced Cyber Team (FACT) launched a criminal investigation against Tornado Cash in June 2022.</p>
<p>According to FACT, Tornado Cash was used to conceal large-scale criminal money flows, including crypto hacks and scams.</p>
<p>“These included funds stolen through hacks by a group believed to be associated with North Korea. business of at least seven billion dollars,” the ad notes.</p>
<p>The news comes shortly after the United States Treasury Department placed dozens of Tornado Cash addresses on the Office of Foreign Asset Control (OFAC) sanctions list on August 8. then froze 75,000 USDC tied to OFAC-approved addresses.</p>
<p>Due to the sanctions, it has become illegal for any US person and entity to interact with Tornado Cash smart contract addresses. Penalties for willful non-compliance can range from fines of $50,000 to $10,000,000 and 10 to 30 years in prison.</p>
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Aug 12, 2022
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The Dutch Tax Information and Investigation Service does not rule out multiple arrests in its ongoing criminal investigation against crypto mixer Tornado Cash.
, a Dutch agency responsible for investigating financial crimes, officially announced on Friday the arrest of a 29-year-old man in Amsterdam.</p>
<p>The man was allegedly involved in facilitating criminal financial flows and money laundering through the decentralized Ethereum mixer Tornado Cash, the authority said.</p>
<p>The FIOD stressed that it does not rule out multiple arrests in this case, noting that its Financial Advanced Cyber Team (FACT) launched a criminal investigation against Tornado Cash in June 2022.</p>
<p>According to FACT, Tornado Cash was used to conceal large-scale criminal money flows, including crypto hacks and scams.</p>
<p>“These included funds stolen through hacks by a group believed to be associated with North Korea. business of at least seven billion dollars,” the ad notes.</p>
<p>The news comes shortly after the United States Treasury Department placed dozens of Tornado Cash addresses on the Office of Foreign Asset Control (OFAC) sanctions list on August 8. then froze 75,000 USDC tied to OFAC-approved addresses.</p>
<p>Due to the sanctions, it has become illegal for any US person and entity to interact with Tornado Cash smart contract addresses. Penalties for willful non-compliance can range from fines of $50,000 to $10,000,000 and 10 to 30 years in prison.</p>
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