Summary:
- The U.S. Department of the Treasury issued sanctions on a virtual currency mixer called Tornado Cash, which has been used to launder over $7 billion worth of virtual currency since its creation in 2019.
- Tornado Cash was used to launder the proceeds of cybercrimes, including those committed by a North Korean hacking group known as Lazarus Group.
- The sanctions prohibit U.S. persons from engaging in any transactions with Tornado Cash, and freezes any assets the mixer may have under U.S. jurisdiction.