DeFi News Official TheBitTimes.com

The recent indictment of Tornado Cash developers brings the tension between crypto privacy and national security into sharp focus. What are the implications for the crypto world? One of the main issues affecting innovation is the potential for abuse by bad actors. Because of its pseudonymous nature, low cost, and ability to move vast sums, crypto has had its fair share of cases of misuse. Looking at the recent fiasco of Tornado Cash founders and the regulators, one could think that criminals are tipping the scales in the regulator’s favor.  A recent report by blockchain research firm Chainalysis found that as much as $23.8 billion was laundered using crypto currency in 2022. The report estimated that cybercriminals have laundered over $67 billion using crypto since 2015. That amount excluded funds from so-called “offline crimes” such as drug trafficking and illegal gambling and only comprised money from hacks and ransomware attacks. It means that the actual figure...

The Tornado Cash DAO Hacker has begun to move the stolen Ethereum ( ETH ) and Torn (TORN) tokens. On Wednesday night, 100 ETH er ( ETH ) and 38,000 torn (TORN) tokens were moved by addresses connected to the hacker. According to Etherscan data, the hacker used the Tornado Cash protocol for the movement. An unnamed attacker, or attackers, took control of the DAO responsible for the privacy-focused crypto mixer’s operations on Saturday. The hacker also took control of the DAO’s funds and future plans. The attacker continues to have access to potentially all of Tornado Cash’s treasury cash and currently has over 20 ETH er ($35,684) in their wallet. A fraudulent proposal was put out by the attacker, hiding a computer function that gave them a fake governance vote. Some components of Tornado Cash, including torn tokens held in the primary governance contract, were accessed using fake votes, and also the stolen Ethereum. The hacker could also withdraw locked torn tokens. Howeve...