Federal Reserve Updates Hurricane Monetary Sanctions, Citing North Korea’s Nuclear Weapons Program

Today, the US Treasury updated its sanctions in Ethereum Tornado Cash coin mixer, citing its role in North Korea’s nuclear weapons program.

Fed in August forbidden US citizens were banned from using the blender, claiming that criminals – including North Korean hackers – were using it to launder dirty money.

In an announcement Tuesday, the US Treasury’s Office of Foreign Assets Control (OFAC) Redesigned Tornado Cash, citing “its role in enabling malicious cyber activities, which ultimately supports North Korea’s activities.” [Democratic People’s Republic of Korea] Weapons of mass destruction [weapons of mass destruction] a program.”

“The redesign takes into account additional information and also includes an additional basis for determining Tornado Cash in connection with its support of North Korean activities,” the statement said.

The update also clarifies who the “tornado cashier” is in the reset — something that the cryptocurrency advocate Coin Center sought in a lawsuit against the Treasury last month.

Previously, the crypto community Even in the arms About the authorities targeting the developers behind the code. But now, OFAC says it “has not identified individual Tornado Cash founders, developers, DAO members, users, or other persons involved in supporting Tornado Cash at this time.”

North Korea’s weapons of mass destruction program is back in the spotlight after it began testing its missiles – including Shoot one over Japan Last month. Sanctions have been imposed on the pariah state by a number of different countries for decades.

Tornado Cash is a tool used by people in the crypto world to anonymously send and receive Ethereum, the second largest digital asset by market capitalization.

The Fed initially said that more than $7 billion in dirty digital cash has passed through the Tornado since its inception in 2019.

According to the authorities, the North Korean state-sponsored hacking group Lazarus Group used Tornado Cash as a way to hide the stolen funds.

But blockchain data company Elliptic later He said In a report that of the $7.6 billion passed through the app, only $1.5 billion was from illegal activity.

The crypto community has criticized the tornado sanctions: Coinbase, the largest digital asset exchange in the United States, is Finance A lawsuit against the Ministry of Finance.

Coinbase claims that the ban “punishes people who have done nothing wrong and lowers people’s privacy and security” — and demands that the penalties be removed.

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