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Tornado Cash Developer Sentenced to 64 Months in Prison

A developer associated with Tornado Cash, a popular Ethereum-based privacy protocol, has been sentenced to 64 months in prison for money laundering charges amounting to $1.2 billion.

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A developer associated with Tornado Cash, a popular Ethereum-based privacy protocol, has been sentenced to 64 months in prison for money laundering charges amounting to $1.2 billion.

The developer’s sentencing underscores the increasing scrutiny faced by privacy-focused cryptocurrency projects and their developers, as authorities worldwide intensify efforts to combat money laundering and illicit financial activities facilitated by digital assets.

Tornado Cash, known for its privacy-enhancing features that allow users to send and receive Ethereum transactions without revealing their identities, has faced criticism and regulatory scrutiny for its potential use in money laundering and other illicit activities. The sentencing of one of its developers highlights the legal risks associated with involvement in such projects.

The $1.2 billion money laundering scheme orchestrated by the developer involved the use of Tornado Cash to obfuscate the origin and destination of illicitly obtained funds, making it difficult for law enforcement agencies to trace and recover the stolen assets. The sentencing sends a clear message that individuals involved in facilitating illegal activities through cryptocurrency platforms will be held accountable for their actions.

While Tornado Cash itself is not inherently illegal and serves legitimate purposes for privacy-conscious users, its potential misuse for money laundering and other illicit activities poses significant challenges for regulators and law enforcement agencies. The sentencing of the developer underscores the need for robust regulatory oversight and compliance measures to prevent abuse of privacy-enhancing technologies in the cryptocurrency space.

The case also highlights the importance of collaboration between industry stakeholders, regulators, and law enforcement agencies to address emerging risks and challenges in the rapidly evolving cryptocurrency ecosystem. As the cryptocurrency market continues to mature, efforts to combat illicit activities and protect users’ interests will remain a top priority for authorities worldwide.

In summary, the sentencing of the Tornado Cash developer for money laundering charges underscores the regulatory challenges facing privacy-focused cryptocurrency projects and their developers. While privacy-enhancing technologies offer legitimate benefits for users, their potential misuse for illicit activities poses significant risks that must be addressed through coordinated regulatory action and industry collaboration.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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