Ameen Soleimani, the co-founder of SpankChain and Reflex Labs, has teased a revival of sorts for the controversial Ethereum transaction mixer, Tornado Cash. Soleimani’s tweet indicated the...
Tag: OFAC
Sinbad crypto mixing service may be Blender in disguise: Elliptic
A shuttered crypto transaction mixer once sanctioned by U.S. regulators may have returned under a new name, according to an analysis by crypto firm Elliptic. Elliptic said that on-chain data sho...
Why Proof of Innocence Won’t Work for US Tornado Cash Users
Web3 venture builder Chainway recently announced a tool that would interest Tornado Cash users — a tool that would provide data supposedly showing their funds are from a legitimate source. At is...
Here’s Why Tornado Cash’s Activity Didn’t Cease Completely Post OFAC Sanctions
The Office of Foreign Assets Control’s (OFAC) tryst with the crypto industry dates back to 2018 when it designated two Iran-based individuals of malicious cyber activity. There has been no looking bac...
Over 60% Of Ethereum Blocks Are OFAC Complaint, A Reason To Worry?
When Ethereum finally moved from a Proof of Work (PoW) to a Proof of Stake (PoS) mechanism, it had been done to much fanfare in the community. Most celebrated the new promise of better efficiency and ...
Kraken Settle Downs the Tussle with the OFAC
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Kraken Settles With U.S OFAC Over Iran Sanctions Compliance
2 hours ago | 2 mins read Exchange News The OFAC claims Kraken did not take reasonable precautions. Kraken will allocate an extra $100,000 to sanctions compliance mechanisms. Kraken, a cryptocurrency ...
Kraken settles with US Treasury’s OFAC for violating US sanctions
The United States Treasury Department’s Office of Foreign Assets Control, or OFAC, has announced a settlement with crypto exchange Kraken for “apparent violations of sanctions against Iran.” In a Nov....
Kraken settles Iran sanctions violations with U.S. Treasury
Crypto exchange Kraken agreed to settle with the Treasury Department’s Office of Foreign Assets Control over the firm’s apparent violations of sanctions against Iran. Kraken, which volunta...
99% ETH OFAC compliance to slow block time to 3hrs but not censor
As the Office of Foreign Assets (OFAC) compliance levels continue to increase on the Ethereum blockchain, a researcher for Scroll ZKp attested to the fact that a censored transaction will still confir...
Research: 78% of all staked ETH is across 4 centralized providers; 74% of all blocks are OFAC compliant
Ethereum (ETH) staking on-chain data shows that an estimated 78% of all staked ETH is across four centralized providers. Currently, an approximated 8-9 million ETH is staked across the following four ...
New Treasury sanctions link Tornado Cash to North Korea’s nuclear weapons program
Despite industry pushback, the U.S. Treasury is not giving an inch in the fight over its sanctions on Tornado Cash. The Treasury’s Office of Foreign Asset Control has in fact added a desi...
73% of All Daily Blocks Minted on Ethereum OFAC Compliant
Altcoin News 51% of Ethereum blocks were confirmed to be compliant with OFAC rules in October. The agency has already sanctioned Tornado Cash and a number of ETH addresses. Members have been monitorin...
Ethereum inches even closer to total censorship due to OFAC compliance
Considering that protocol-level censorship is deterrent to the crypto ecosystem’s goal of highly open and accessible finance, the community has been keeping track of Ethereum’s growing complianc...
Ethereum is Getting Closed to Being Completely Censored Because of OFAC Regulations
The percentage of OFAC-compliant Ethereum blocks being created every day has increased to 73%, which heightens censorship worries in the blockchain ecosystem. Following Ethereum framework censorship t...
Ethereum close to 100% censorship due to OFAC compliance
The community has been monitoring Ethereum‘s increasing compliance with requirements set forth by the Office of Foreign Assets Control (OFAC). This is due to the fact that protocol-level censorship is...
Sam Bankman-Fried Proposes ‘Respect’ for OFAC in Crypto Regulatory Framework
“OFAC does not deserve respect. It deserves repeal,” Voorhees said Several crypto observers are combating Bankman-Fried’s DeFi proposals Sam Bankman-Fried asked for critiques on his proposed crypto re...
Ethereum Block Generation Turning Towards OFAC Compliance
4 hours ago | 2 mins read Altcoin News The vast majority of blocks over the last day have been sent by relays. The Ethereum-based research and development team Flashbots created MEV-Boost. On Friday, ...
51% of Ethereum blocks are now compliant with OFAC standards, raising censorship concerns
One month after the Merge, 51% of Ethereum blocks were compliant with OFAC standards, according to blockchain development Labrys’ data, as MEV-Boost relays take over market share. On Twitter, u...
Ethereum Centralization Concerns Resurface As 51% Of Blocks Produced Are OFAC Compliant, Hoskinson Responds
– Advertisement – Following The Merge, centralization concerns have run rampant, and now the Ethereum community has one more reason to be concerned as OFAC-compliant blocks reach a signifi...
Coin Center Filed Suit Against OFAC to Sanction Tornado Cash
Coin Center filed a second lawsuit against the Office of Foreign Assets Control in Federal District Court. The filing challenges the authority of OFAC to sanction Tornado Cash immutable smart contract...
OFAC And FinCEN Charged Bittrex Exchange For Over $53 Million
Treasury’s Foreign Asset Control (OFAC) and Financial Crime Enforcement Network (FinCEN) have set charges against the Bittrex crypto exchange for violating anti-money laundering rules and the other U....
Coin Center Sues OFAC Over Tornado Cash Sanctions
Crypto think tank Coin Center has been one of the most critical voices against the U.S. Treasury and the sanctions imposed on the Ethereum-based decentralized exchange (DEX) Tornado Cash. The platform...
US Treasury’s OFAC and FinCEN announce $29M in enforcement actions again Bittrex
Bittrex agreed to pay more than $29 million in a settlement with FinCEN, but the regulator said it will credit a $24-million payment “to settle its potential liability with OFAC.” The United States De...
Crypto Exchange Bittrex to Pay $30M to Settle OFAC Charges It Allowed Sanctioned Jurisdictions to Trade
Between 2014 and late 2017, Bittrex allowed around 1,800 people in sanctioned jurisdictions – including Iran, Cuba, Sudan, Syria and Crimea – to conduct more than 116,000 transactions worth roughly $2...
Tornado Cash Monthly Active Users Dropped 50% Following OFAC Sanctions
The sanction of Tornado Cash was, however, met with an extreme rebuff from industry participants, as many argue that sanctioning a piece of code was unhealthy for the growth of the tech world. The onc...
Suspicious Fund Transfers On Tornado Cash Still Active Despite OFAC Sanctions
Crypto security firm CertiK on Saturday said the firm has detected a suspicious fund transfer worth $2.4 million into crypto mixer Tornado Cash. It reports the fund transfer is likely related to the $...
GitHub Reverses Tornado Cash Ban After OFAC Clarification
GitHub has announced that it has reversed a complete ban on Tornado Cash, meaning code repositories for the Ethereum-based mixer were relisted on the site. However, the code repositories remain restri...
GitHub unbans Tornado Cash repositories following OFAC guidance
Crypto mixer Tornado Cash has returned to the software development platform GitHub after several weeks of being banned on the website. Ethereum developer Preston Van Loon took to Twitter on Thursday t...
TRM Labs confirms “Tornado Cash is different” in response to OFAC sanctions
Watch this exclusive interview with TRM Labs for a deep dive into how major DEXs dealt with OFAC sanctions within the crypto ecosystem. TRM Labs is a blockchain intelligence company that helps detect ...