US Treasury Department Levies Sanctions Against Crypto Mixer Tornado Cash for Being Used to Launder Money

US Treasury Department Levies Sanctions Against Crypto Mixer Tornado Cash for Being Used to Launder Money

The US Treasury has sanctioned zero-knowledge proof-based private transaction protocol Tornado Cash for its complicity in a crypto laundering case. The digital currency mixing service has allegedly been used to launder more than $7 billion (roughly Rs. 55,672 crore) worth of virtual currency since its creation in 2019, the Treasury…

Crypto Mixers: Privacy Tools That Emerged as Safe Havens for Scamsters

Crypto Mixers: Privacy Tools That Emerged as Safe Havens for Scamsters

Crypto mixers are privacy tools that help make crypto transactions between two parties completely anonymous. The idea behind crypto mixers is to remove any digital signatures associated with a particular trade and maintain privacy. More often than not, crypto mixers do not ask for Know-Your-Customer (KYC) information, that make them…