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Dutch Authorities Arrest Suspected Tornado Cash Developer
In an unusual twist in crypto news, an individual has been arrested by Dutch authorities over suspicion of being a Tornado Cash developer.
Tornado Cash is the crypto mixing service that was recently banned by US authorities. The app masks transactions by mixing them together before sending the funds to their final destination. According to TechCrunch, US authorities banned the app because it’s commonly used to launder crypto funds.
The outlet also reports a suspected developer has been arrested by Dutch authorities, prompting fear and criticism from both the crypto and privacy communities. The authorities didn’t rule out the possibility of multiple arrests.
Many took to Twitter to point out the seeming double standard of not arresting and jailing the creators of popular traditional financial services since they are used for far more money laundering than Tornado Cash.
gonna have to arrest the developers behind swift, ach network, visa, mastercard because my understanding is that fraudulent transactions and money laundering occur on global financial networks
— Mike Ddas (
,
) (@mdudas) August 12, 2022
Sill others pointed out how the banning of Tornado Cash and the arrest of its developer appears to be a blatant attack on privacy.
Perhaps the most chilling observations were those highlighting the dangerous precedent being set for developers and the responsibility they will hold for how others use their products.
Dutch Authorities Arrest Suspected Tornado Cash Developer
Matt Milano
from WebProNews https://ift.tt/lUgZ576
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