Tornado Cash shows that DeFi can’t escape regulation
DeFi developers seriously need to consider working with regulators on compliance issues if they want their projects to succeed.
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DeFi developers seriously need to consider working with regulators on compliance issues if they want their projects to succeed.
The platform said it has used compliance vendors to scan for and flag accounts potentially associated with illicit activities, including sanctions lists for many countries.
It appears to be an ongoing prank to challenge the novel Tornado Cash sanctions.
Roman Semenov, co-founder of TornadoCash, tweeted that his GitHub account had been suspended after the U.S. Treasury Department’s sanctions announcement, and the Tornado Cash repository has also been deleted from GitHub.
Stablecoin issuers can blacklist interactions with the Tornado Cash dApp on the Ethereum smart contract level.
The privacy-focused mixer has been at the center of several DeFi exploits over the past year as users attempted to obfuscate the trail of stolen funds.
Hackers appear to have turned down a $1 million bounty offer from the Harmony team to return $100 million stolen from the Horizon Bridge token bridge.
The exploiter seems to have rejected the Harmony team’s bounty offer of $1 million to return the $100 million stolen from the Horizon Bridge token bridge.
Once fully deployed, users will be able to conduct private transactions through the popular Tornado Cash mixer on Arbitrum's second layer network.