The Race to Resisting Censorship: Crypto Mixers and Privacy Coins | Crypto

The Race to Resisting Censorship: Crypto Mixers and Privacy Coins

– The US Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned two crypto mixers, Blender.io and Tornado Cash, in response to news that the Lazarus Group used the latter to launder $455 million in stolen funds.

– OFAC’s decision to sanction the smart contract addresses associated with Tornado Cash has raised constitutional issues, as it is unclear if the agency has the authority to do so.

– Privacy coins such as Monero offer financial anonymity by obscuring IP addresses, wallet balances and the flow of funds from public view.

– Monero’s recent hard fork update has made the cryptocurrency’s transactions harder to trace, potentially closing any back doors law agencies used to track transactions.

https://blockworks.co/wp-content/uploads/2022/08/EXPL_crypto_censors_v02.jpg

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