The Treasury Department issued sanctions Monday against a cryptocurrency service that has allowed North Korean hackers and others to launder billions of dollars’ worth of digital tokens stolen in virtual heists.
The service, Tornado Cash, is what is known as a mixer, and it pools digital assets to obscure their ownership. Since its launch in 2019, the program has laundered more than $7 billion in digital assets, according to the Treasury Department. By adding the service’s website and 45 associated crypto wallets to the sanctions list, the administration makes it illegal for any American to transact with them.
Source: Treasury sanctions crypto program that helped North Koreans launder funds – The Washington Post