Tornado Cash made headlines in August 2022 when the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned it, raising questions about the role of cryptocurrency mixers in ensuring financial privacy. This debate intensified as Sinbad.io, another major player, faced OFAC sanctions for facilitating illicit transactions, particularly those involving the Lazarus hacking group.
While mixers offer a legitimate service by enhancing the privacy of cryptocurrency transactions, concerns arise when criminals exploit them to launder large sums, potentially jeopardizing the services’…
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