The U.S. Treasury has lifted sanctions on Tornado Cash, a crypto mixer previously accused of laundering $7 billion in stolen cryptocurrency linked to North Korean hackers. This decision comes after a legal battle, with the Treasury indicating they exercised discretion on the matter. Tornado Cash enables users to obscure the origin of their cryptocurrency, including illicit funds. Despite lifting sanctions, the Treasury stated that it remains concerned about North Korea's ongoing cyber threats, emphasizing the risks associated with cryptocurrency hacks tied to the regime's funding of nuclear arms.
U.S. Treasury officials have lifted sanctions on Tornado Cash, stating they 'exercised our discretion' following a legal battle.
Crypto mixers allow customers to conceal where their crypto came from, including tainted or illicit funds, by blending the funds with other crypto.
The Treasury remains 'deeply concerned' about the threat of crypto hacks from the North Korean regime.
In 2022, Tornado Cash was accused of laundering stolen crypto from hacks carried out by North Korea.
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