Tornado Cash community fund multisignature wallet dissolves amid sanctions

Peer-elected signatories for the Tornado Cash Community Fund have left portfolio management to the DAO.

Following US approval of the USD Coin (USDC) and Ethereum addresses associated with the Tornado Cash crypto mixer, the project's multi-signature community fund signers have disbanded.

In 2021, the Tornado Cash community created a fund to provide incentives to major contributors to the project. The fund was held in a community-managed multi-signature wallet with five members elected by peers validating transactions that were selected due to their contributions to the project.

However, since interacting with Tornado Cash now carries more risks, including penalties for US citizens ranging from fines of up to $10 million to prison terms of up to 30 years, community members in charge of the fund vacated their positions and handed over control to the Decentralized Autonomous Organization (DAO) of the project.

On August 12, the signatories