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Jan 8

Tornado Cash token down 50% after U.S. sanctions and arrest of developer

The proprietary token of the mixer and decentralized organization Tornado Cash is down more than 50% in a week following U.S. Treasury Department sanctions and the arrest of one of its developers. Earlier today, the TORN token hit an all-time low of $11.81, starting the week above $30. Tornado Cash was launched in 2019 as a tool to increase the anonymity of Ethereum users by blending their assets. On Aug. 8, the Office of Foreign Assets Control (OFAC) placed Tornado Cash and 44 related Ethere...

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