Last week, the crypto mixer Tornado Cash’s website and its associate addresses were banned by the US Treasury Department for their involvement in money laundering from large-scale hacking operations.
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Suspected Tornado Cash Developer Arrested in the Netherlands
With the recent reports in Amsterdam, it appears that the global securities are haunting the crypto mixer Tornado Cash.
On Friday, a 29-year-old man was arrested in Amsterdam by the Dutch police for his alleged involvement in the development of Tornado Cash.
The arrest was announced by the Netherlands’ Fiscal Information and Investigative Service (FIOD), an agency that investigates financial crime in the Netherlands.
According to the agency, the individual is “suspected of involvement in concealing criminal financial flows and facilitating money laundering,” and that “multiple arrests are not ruled out” as financial crime investigators continue investigations into Tornado Cash.
The suspect will appear before the court as soon as possible.
Tornado Cash earlier this month was sanctioned in the US as it has failed over time to address illicit activities related to money on its platform, according to the US Treasury Department.
Blender.io is another crypto mixer added to the sanction list of the Treasury Department due to the mixer’s connection to the North Korea hacking group.
Some crypto advocate groups such as Coin Center have raised their voices against the ban of crypto mixers in the US, according to Coin Center, the ban on the crypto mixers was unfairly targeting “a tool that is neutral in character and that can be put to good or bad uses like any other technology.”
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