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On Aug. 10, 2022, just days after OFAC issued sanctions against virtual currency mixer Tornado Cash, <a href="https://www.fiod.nl/arrest-of-suspected-developer-of-tornado-cash/">Dutch authorities arrested</a> the protocol’s alleged developer. In a <a href="https://home.treasury.gov/news/press-releases/jy0916">press release</a>, the Treasury Department alleged that since 2019, Tornado Cash had been used to launder more than $7 billion in cryptocurrency, including more than $455 million stolen in the <a href="https://www.elliptic.co/blog/540-million-stolen-from-the-ronin-defi-bridge">largest decentralized finance (DeFi) hack</a> to date, on the Ronin Network, carried out by the North Korean-backed cybercrime syndicate the Lazarus Group. Dutch authorities have not released the identity of the developer and have not ruled out the possibility of further arrests related to Tornado Cash.

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<a href="https://www.bakerlaw.com/alerts/developer-arrested-following-ofac-sanctions-tornado-cash-protocol" target="_blank" rel="noreferrer noopener">Read full alert</a>.

Developer Arrested Following OFAC Sanctions of the Tornado Cash Protocol