Friday, October 7

Tag: crypto laundering

Arrest of Crypto-Laundering Suspect Brings Tornado Cash to Broil
Crypto & NFT, Europe

Arrest of Crypto-Laundering Suspect Brings Tornado Cash to Broil

Dutch authorities arrested a 29-year-old man in Amsterdam for concealing unlawful financial flows and helping crypto laundering via the cryptocurrency service Tornado Cash. The individual dubbed the service's "creator," was caught in Amsterdam on August 10. According to a Friday statement by the Dutch Fiscal Information and Investigation Service, or FIOD, officials had not ruled out the potential of multiple arrests. Tornado Cash is a cryptocurrency mixing service. The internet service enables users to conceal the origin or destination of cryptocurrency transactions, thereby enabling crypto laundering. The (criminal) provenance of cryptocurrencies is frequently not or only minimally verified by such mixing services. Most users of a mixing service do so to increase their anonymity. T...
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