The U.S Treasury Department’s Office of Foreign Assets Control (OFAC) is imposing a ban on five crypto addresses linked to a Russian neo-Nazi paramilitary group. The group known as Task Force Rusich w...
Tag: OFAC
U.S OFAC Sanctions Wallet Addresses of Ransomware Group
5 hours ago | 2 mins read Bitcoin News A rural electric utility company, a children’s hospital, and others are among the sanctions. The suspected attackers and their firms have been added to OFAC’s sa...
The OFAC Answers Questions About The Tornado Cash Sanctions, Uncertainty Remains
The Tornado Cash situation is a riddle wrapped up in an enigma. Why did the OFAC sanction a piece of software? And why did Dutch authorities arrest a sole developer? Those are not the question we’ll a...
OFAC Opens Door for Tornado Cash Users to Potentially Withdraw Funds
Users who engaged with Tornado Cash prior to Aug. 8 can apply for a license to retrieve their funds Interested parties must submit a variety of information, including wallet addresses, transaction has...
Coinbase Funds Tornado Cash Against OFAC Lawsuit
News that Tornado Cash was sanctioned by the U.S. Treasury (OFAC) has shocked the crypto community. The ban followed allegations that open-source cryptocurrency mixing protocol had aided and abated ha...
OFAC case details crypto industry’s sanction worries –
Sanctioning Tornado cash has eventually raised mixing activity on other platforms. According to the analysts, Sanctioning tornado cash has not decreased mixing activities. Tornado Cash, a fully decent...
OFAC Lawsuit Details Crypto Industry’s Sanction Concerns
Sanctioning Tornado Cash has not diminished mixing activity, experts say The suit, filed in federal court in the Western District of Texas, features six plaintiffs, including Coinbase employees and a ...
U.S. Treasury And OFAC Face Lawsuit For Tornado Cash Ban
The U.S. Treasury and OFAC are facing a civil action complaint from investors due to its proscription of mixer Tornado Cash. The Tornado Cash ban has sparked outrage from the broader cryptocurrency co...
Coinbase backs lawsuit aimed at Treasury’s Tornado Cash sanctions
Several employees of leading crypto exchange Coinbase are filing suit to roll back last month’s Tornado Cash sanctions. Coinbase itself is financially backing the suit. The lawsuit centers on a...
Can Privacy-Focused Bitcoin Projects Avoid OFAC Sanctions?
Just as a bank protects its customers’ financial activities, privacy tools like mixers are designed to protect Bitcoin users’ activities from prying eyes. Sure, some people take advantage of mixers fo...
Tether says it’s not freezing Tornado Cash addresses until government tells it to
Tether is upholding its decision not to freeze sanctioned wallet addresses with ties to Tornado Cash because it has not received any requests from US law enforcement or regulators to do so, the compan...
Congressman demands answers from Yellen on Tornado Cash sanctions
Crypto booster Congressman Tom Emmer is demanding answers from Treasury Secretary Janet Yellen for the agency’s recent Tornado Cash sanctions. The Republican from Minnesota took aim at the Treas...
The EFF Calls Out OFAC, Ratifies Code Is Speech, Asks For Developers Protection
Does the OFAC not know that code is speech? Yesterday, we covered the EFF’s demands for clarity around the Tornado Cash situation and the case they’re defending. Today, we’ll dig into a simple idea, t...
POS Ethereum Will Be Censorship and OFAC Resistant Argues Eric Wall
In the wake of sanctions from the Office of Foreign Assets Control (OFAC) against Tornado Cash, crypto analyst Eric Wall has trashed the possibility of an OFAC-compliant Ethereum chain, calling the no...
The EFF Calls Out OFAC, Asks For Clarity Around The Tornado Cash Situation
It’s time for the EFF to speak out on the Tornado Cash situation. The OFAC sanctioning a smart contract might’ve been going too far, they stepped into the Electronic Frontier Foundation’s turf. We cou...
U.S. OFAC Sanctions on Tornado Cash For $7 Billion Funds Laundering
The Tornado of $7 Billion Cash Laundering Tornado cash is used to launder approximately more than 7 Billion USD since its existence in 2019. This includes three major names from different geographies:...
Vitalik Buterin’s Take On Possible Ethereum Censorship By OFAC
Vitalik Buterin, the co-founder of Ethereum, frowns deeply on the possibility of Ethereum censorship by the US Treasury Department’s Office of Foreign Assets Control (OFAC). He maintained that such an...
Coin Center prepares legal challenge to Treasury’s Tornado Cash sanctions
Coin Center, a crypto-focused policy think tank, is prepping a challenge to the Treasury’s sanctions on Tornado Cash. In an August 15 blog post, Coin Center analyzed the contradiction of sanctio...
Is Ethereum Censorship By The OFAC Possible? Here’s What Vitalik Buterin Think
Ethereum co-founder Vitalik Buterin considers enforcing censorship by regulators as an attack on Ethereum. He voted in favor of burning the ETH stakes of staking providers via social consensus if they...
Coin Centre May Bring Legal Action Against OFAC for Tornado Sanctions
Coin Centre – a non-profit crypto policy think tank – is considering a court challenge against the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC). The challenge is a response to t...
DeFi protocols Aave, Uniswap, Balancer, ban users following OFAC sanctions on Tornado Cash
Several decentralized applications on the Ethereum network have implemented code changes to revoke access from “sanctioned” addresses. The currently identified protocols are Aave, Uniswap, Ren, Oasis,...
Tornado Cash Activities After Sanctions
August 11, 2022, 7:18AM EDT • 5 min read Quick Take Less than 30% of Tornado Cash deposit originates from stolen funds and sanctioned entities, while a significant portion possibly comes from legitima...
Tornado Cash Sees about 80% Deposit Decline following OFAC Sanctions: Report
In just about a week since the United States Treasury Department’s Office of Foreign Assets Control (OFAC) imposed a ban on the crypto mixer, Tornado Cash, the total deposits on the platform have plum...
The US OFAC sanctions Tornado Cash for connections with the Lazarus Group
One of the most popular crypto mixers, Tornado Cash, entered the payroll of risky websites according to the OFAC. According to reports, the crypto platform contributed more than $7B in laundering in 2...
Tornado Cash Now Placed Under US OFAC Sanctions
The United States Treasury Department has sanctioned one of the world’s most popular crypto mixing platforms, Tornado Cash. According to the sanctions, the crypto mixer has been barred by the go...
Digital Currency Exchange Kraken Under Investigation for Violating OFAC Sanctions – Bitcoin News
On Tuesday, a newly published report details that the cryptocurrency exchange Kraken is under federal investigation for allegedly violating U.S. sanctions, according to five people familiar with the m...
OFAC sanctions three more Ethereum addresses tied to $600 million Ronin attack
The US government is continuing to issue sanctions tied to last month’s headline-generating attack on Axie Infinity’s Ronin sidechain, which resulted in the theft of more than $600 million...
BitRiver Calls OFAC Sanctions ‘Unfair’ Anti-Competitive Move to Benefit US Miners
BitRiver’s parent company is based in Switzerland and “has never provided services to Russian government institutions” or worked with entities already targeted by sanctions, Igor Runets, the com...
U.S. Treasury Sanctions Russian Crypto Mining Operation Amid New Token Launch
In a press release today, the U.S. Department of the Treasury is taking action against companies in Russia’s virtual currency mining industry. The Office of Foreign Assets Control (OFAC) designated Bi...
ETH Mixer Tornado Cash Reveals Blocking OFAC Sanctioned Ethereum Addresses via Chainalysis Oracle Contract – Coinotizia
According to the project’s official Twitter account, Tornado Cash, the ethereum mixing service that allows participants to shuffle ether, is blocking flagged ethereum addresses listed on the Office of...