Subtle Bits of Crypto - Week 2 August, 2022
Weekly Crypto Update
Storm brewing at Tornado Cash, a coin mixer service
OFAC and SDN sanctions by the US Treasury
Tornado Cash has been used extensively by hackers and money launderers to obfuscate their transactions.
This led to the service being added to the OFAC and SDN list which restricts Americans and American Entities transacting with the service.
Developer arrested for involvement with the Protocol
A 29-year-old developer suspected of being involved with the protocol was arrested in Amsterdam
Tornado DAO voted for partial control of the treasury
As a knee-jerk reaction to this Tornado DAO hastily voted to add its own system of governance to the treasury’s multisig.
The DAO’s treasury is now controlled by a four-of-six multisig arrangement - with the DAO as one signer.
Crypto analytics platform Messari plots raise at $300 million valuation
The fundraising effort comes roughly a year after Messari banked $21 million in a round led by Steve Cohen’s Point72 Ventures.
The raise would be the latest in a string of noteworthy investments in crypto-focused data analytics startups.
Elliptic Report: RenBridge used to launder ~$540 million in crime-related crypto cash since 2020
Cross-chain bridges are used to send digital assets across blockchains, bypassing a centralized service that can trace transactions
The report says RenBridge was “an important facilitator” for Russia-linked ransomware gangs
Crypto payments are rising in popularity across the globe
93% of those surveyed have heard of cryptocurrency
41% have done at least one crypto-related activity in the past year