Tornado Cash is an industry-leading coin mixer that enables anonymous transactions. On August 8, the U.S. Department of the Treasury’s Office of Foreign Assets Control announced that it would sanction Tornado Cash, roiling the community.
On August 8, U.S. local time, the Office of Foreign Assets Control of the US Department of the Treasury (OFAC) announced the sanctions against the mixed currency protocol Tornado Cash, roiling the community.
This event is expected to be a watershed in the growth of DeFi, and even the entire crypto industry. Then, what is Tornado Cash? How does it work? How did it become the target of sanctions by the US government? You’ll find all the answers to these questions in this article.