Coin Center Sues US Treasury Over Tornado Cash Sanctions
Coin Center is backing a second lawsuit against the U.S. Treasury Department alleging its sanctioning of Tornado Cash overstepped legal bounds.
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Coin Center is backing a second lawsuit against the U.S. Treasury Department alleging its sanctioning of Tornado Cash overstepped legal bounds.
DeFi developers seriously need to consider working with regulators on compliance issues if they want their projects to succeed.
“By treating autonomous code as a ‘person’ OFAC exceeds its statutory authority,” said Coin Center's Jerry Brito and Peter Van Valkenburgh.
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.
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.