An official Tornado Cash platform contributor said that the team is not able to fight against the ban restrictions imposed by the US government.
Tornado Cash is an Ethereum blockchain-based decentralized protocol, which allows crypto users to mix their transactions to remain anonymous from the blockchain public transaction record. However, Tornado Cash provides privacy to the users but the majority of the bad actors use this platform for illegal activities like drug dealing & money laundering. Even though the platform introduced an anti- illegal crypto transaction system, it still failed to prohibit the bad actor’s activities. In the last one year of time frame, more than $1 billion in funding has been laundered through this platform. In response to these illegal activities across the Tornado Cash platform, the US treasury office imposed sanctions.
On 13 August, a crypto news website reported that a member of the Tornado Cash team officially talked about the ongoing issues with the Tornado Cash platform because of the US sanctions.
Tornado Cash member said:
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“multi-sigs shut down the DAO… we’re all out. Better safe than sorry, unless it all calms down a bit.”
When the crypto mixer platform member was questioned that what he thinks about the action of the Defi protocols Aave, Uniswap, and Balancer to ban users following US sanctions on Tornado Cash, then he called this situation a “Shitty situation” because all these Defi protocols claim to be decentralized but still they are banning users, that means, they are controlling the platform in their ways.
He also said that it is a very tough situation for the whole team of Tornado Cash, so it is better to avoid any kind of legal issues and we are getting out because it is also dangerous identically for those developers who are outside of its ecosystem.
Read also: Coinbase says Ethereum transitions to PoS consensus mechanism may hurt ETH price
Tornado Cash member says “Tornado Cash can’t fight against U.S Sanctions”
https://bitcoinik.com/tornado-cash-member-says-tornado-cash-cant-fight-against-u-s-sanctions/feed/
https://bitcoinik.com/tornado-cash-member-says-tornado-cash-cant-fight-against-u-s-sanctions/feed/
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