Netherlands Arrests One Person In Tornado Cash Investigation! “$1 Billion Laundered”

Offering the service of mixing cryptocurrencies on August 8 Tornado Cash USA government by OFAC added to the sanctions list.

This mixing service made money laundering easier as it prevented tracking of cryptocurrencies.

In a statement on Tornado Cash, the Dutch Financial Investigation Service FIODcame from

in the statement Tornado CashIt was stated that a 29-year-old person who is thought to have developed the disease was arrested on 10 August in Amsterdam.

In the statement made by the Dutch Financial Investigation Service, it was determined that Tornado Cash facilitates the transactions of criminals by referring to its features.

The following statements were used in the statement:

“Tornado Cash is a mixing service for cryptocurrencies. This service makes it possible to hide the source or destination of cryptocurrencies. Users of the scrambling service mostly do this to increase their anonymity.

In June 2022, FIOD’s Financial Advanced Cyber ​​Team (FACT) launched a criminal investigation against Tornado Cash offered on the internet through a decentralized autonomous organization (DAO).

FACT suspects that, through Tornado Cash, cryptocurrencies are being used to hide large-scale criminal money flows. These include funds stolen through hacking by a group believed to be associated with North Korea.

Tornado Cash started in 2019 and has since generated at least $7 billion in revenue, according to FACT. Investigations showed that at least a billion dollars worth of criminal cryptocurrencies passed through the mixer. The people behind this organization are suspected of profiting heavily from these transactions.

Since Monday, August 8, 2022, Tornado Cash has been placed on America’s OFAC sanctions list by the US government.

The investigation is carried out by the Public Prosecutor’s Office in terms of many crimes.”

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