Regulatory · August 8, 2022
US Treasury OFAC sanctions Tornado Cash
Price at event
$23,818
Today
$73,594
Since then
×3.1
On August 8, 2022, the US Treasury's Office of Foreign Assets Control added the Tornado Cash crypto mixer to its sanctions list, alleging it had laundered over $7 billion including funds for North Korea's Lazarus Group. By blacklisting a set of immutable Ethereum smart contract addresses rather than a person or company, OFAC opened a years-long debate over whether you can sanction open-source code, culminating in a 2024 Fifth Circuit ruling against Treasury and the sanctions' eventual removal in 2025.
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