Suspected young developer of the Tornado Cash mixer arrested in the Netherlands. Cryptomixer is still in turmoil and is not expected to stop.
The world of crypto is still pretty poorly received, especially by governments. The latter would like more control over these platforms, or at least guarantees that the circulation of money can be traced. What the Tornado Cash mixer refuses to do. The service is currently being accused of laundering multimillion dollars and the alleged developer was arrested today.
Young suspect developer of Tornado Cash mixer arrested in the Netherlands
In the Netherlands, the alleged developer of the Tornado Cash mixer has been arrested. According to the Fiscal Information and Investigation Service (FIOD), the Dutch government agency responsible for investigating financial crimes, the 29-year-old is suspected of “participating in concealing criminal financial flows and facilitating money laundering by mixing cryptocurrencies.”The suspect was to be brought before a judge immediately.
Crypto mixer still in turmoil
FIOD launched an investigation into Tornado Cash last June, and its Financial Advanced Cyber Team suspected that the platform was being used to cover up large-scale flows of criminal funds, including illegal proceeds from hacks and other cryptocurrency scams. The agency found that since the launch of the platform in 2019, at least $1 billion in criminally obtained cryptocurrency has passed through Tornado Cash, and the creator of the service has reportedly “received a large profit from these transactions.”
and it shouldn’t stop
Earlier this week, the U.S. government imposed sanctions on Tornado Cash that prevent anyone in the country from transacting with the service. The Treasury Department said Tornado Cash has already laundered more than $7 billion worth of cryptocurrencies, including $455 million stolen by the North Korean group Lazarus.