Topic: Tornado.Cash Sanctioned by the US - page 3. (Read 708 times)

Tornado was a scam tool as well. I hope that binance will be delisting this token from its exchange site. This token being used by so many criminals. Binance was also doing shady thing by accepting the scam token that used by criminals. So many people's money being stolen got laundered through torando. That means binance shall delist such token from its exchange site.

It's possible, that's how bitcoin mixers are born, because there is a demand for it. But only the tough one are able to survived as of this time.

And for those who are thinking to be the next "Tornado Cash", they will just have to out think the government and to not get track somewhere in the world, caught off guard and now facing a jail time. Monero was smart to do that as developers made a fork recently that will make it harder to trace for privacy reason.

In 2022, many top projects have become scams, from LUNA and now it's Tornado Cash,
even though Torn has also been listed on Binance, and is one of the altcoins with good performance,
but unfortunately maybe Binance will delist this coin, yes, just wait just the date, if you still have the asset,
then my advice is to sell it.

It's the reality, Hackera would mostly resort in mixing their hacked funds to launder it also to make their hacked funds "clean" and spend it. There's a multiple hacking incident happened and mixing services such as Tornado cash are being mentioned on the news being the gateway to launder the money. There are still "real users" of this service but I think they don't use the service regularly like what hackers does.

Regardless of the desire of the government, there is a demand for such mixers, respectively, there will be a supply. So soon there will be a new "Tornado.Cash", which will really not only be decentralized, but also have an anonymous development team, which will not allow the government to control it.

millions of funds keep getting missed out of thin air mate I really think tornado cash is been used by lots of hackers out there than real people and at such it helps prevent stolen funds from been untraceable and that way someone like normad can track hackers account more easily

Bitcoin didn't need the attention of investors to succeed in its early days. Satoshi created it to be a financial instrument/tool, not an investment vehicle. Because exchanges are now obliged to comply with KYC/AML laws, any project with anonymous developers is quickly flagged as a "scam". Of course, scammers hide their true identities to get what they want. But not every project with unknown developers are a scam. Would you call Bitcoin a scam because no one knows who created it? The fact that the creator of Bitcoin is anonymous, gives the project itself true censorship-resistance. You can bet governments will be behind Satoshi's "tail" if they knew his true identity.

With what happened with Tornado.Cash lately, I would take everything with a grain of salt. How far will governments go, will depend on how strong opposing forces get. If there's no opposition, governments will keep hunting crypto/Blockchain tech down until they destroy it for good. The US started with Tornado.Cash, but it could move on to other non-custodial mixers like CashShuffle (BCH), CashFusion (BCH), and Whirlpool (BTC using Samourai wallet). Considering that 90% of crypto projects don't prioritize decentralization, implementing sanctions and/or restrictions against mixers and/or privacy coins should be a no-brainer. Who knows what the future holds to our right to privacy? Just my thoughts



Developers wouldn't risk themselves copying/forking the code, because they know that would raise the alarm of the government. No one wants to face jail time for fines, so this is only the beginning of the end for privacy. Things are going to get worse once CBDCs are released. Governments will keep pressuring against crypto/Blockchain tech to prevent as much people as possible from using it. They will always come up with the excuse that crypto is used for money laundering and tax evasion. But we all know their hidden agenda. Unless the crypto community stands against such actions, the vision of a decentralized and censorship-resistant financial system would be nothing but doomed.

Im sure that some may have copied the code but the question is if even tornado developers can be jailed and then what's gonna happen with the forkers? They can be jailed as well. Think about that. Will you risking your life to be jailed? I will not do that. Yeah we know that how vitalik was giving his announcement about he was sometime using tornado but again this is mostly being used by criminals for the various purpose. I like the way how it was getting sanctioned.
Hackers who always hacking dapps were always using this money laundering tool.

Tornado Cash looks like a scapegoat for the US govt to send a message toward any privacy coin and mixing service out there. They could have gone to ETH, the one was behind Tornado Cash as a smart contract in its system but they didn't. Because they know the backlash from the public is bigger if they've gone to ETH. So they picked the easy prey, Tornado Cash to make an example. The reaction from the ETH community is indifferent. Rally for the cause of decentralization/censorship resistance and support for Tornado Cash is low too. We're fucked if the US govt decides to push more if we do not make out stand here, against the Tornado Cash case.

Some projects are anonymously done and I think theres a way to asses an anonymous project, by its development which can be observed on Github for that project.  You are right,  investors dont like anon team but there are who invest on tech if they saw a great deal of potential for that project.  Its gonna be hard to trust anon projects but if its solid we can see its development on its actual market standing.

In this case, it will be difficult to assess the prospects of the project if the team is anonymous. How will such a decentralized project differ from scams if both projects are presented by an anonymous team? Investors don't like an anonymous team.

Tell that to Ethereum which has a publicly-known founder (Vitalik Buterin) and developers. How can Web 3.0 achieve its full potential if developers' identities are not anonymous? The same way the US government was able to easily take down the Tornado.Cash mixing protocol (even though smart contracts are still running on the ETH blockchain), the same could happen with ETH if the government deems it as a platform for money laundering and tax evasion. Could you imagine if Vitalik goes to prison just like Tornado.Cash's developer? It would be a complete disaster for ETH.

I think that's why Bitcoin's Satoshi Nakamoto didn't disclose his identity. He wanted protect himself (and the project) from government prosecution. Unless crypto/Blockchain developers put decentralization/censorship-resistance first, the whole industry will be doomed. It will be controlled by venture capitalists (VCs) and institutional investors, making crypto no different than traditional banking. If the US was able to successfully sanction a "decentralized" mixing protocol, imagine what would be of other non-custodial mixers and privacy coins? Just my thoughts

On Ethereum it is not enough to post the source code. Ethereum DApps need server hosting, front end design and hosting, and in this case hosting on IPFS using multiple mirrors and RPCs that won't censor users accessing the contract. It's a lot more complicated than forking something like Monero. It might make more sense to use 0xMonero going forward because Tornado Cash has a big target on its back and people are afraid to use it now. 0xMR is a microcap and has an anonymous team and code, so it's a lot safer to mix with.

Someone has to got the source code, i am pretty sure about that. But i doubt that Bitcoin or any other protocol threats Fiat's existence ever. They are very much created for different purposes and regulations already came for Tornado Cash. They will come for others that want to launder money as well.

They arrested one of the developers, forced the likes of github, Discord, to delete all the activity, and this has seen reduced activity in the platform too. So their sanctioning seems to have been successful so far

How many users will be able to access the service directly though the smart contract when the website is offline?

Mixing services have always been doomed.

Ideally, all developers and the team of decentralized applications should be anonymous, otherwise all decentralization will eventually turn into centralized. As for mixing, as long as there is a need for anonymity, such services will continue to work, but at the same time they will become inaccessible to control.

It's been a long time that I have been saying that Monero and other privacy coins builders, team or CEO needs to be hidden, imagine no one knows who Tornado Cash CEO is, the teams should vanish like Nakamoto.

Decentralized would never be prioritized by the Government and totally opposite of its definition.  Crypto mixer goals arent that bad but we cant deny the fact that there will be malice and negative feedback on this as it can be used by scammers.  Privacy is important and government honor that.  However,  scammers are blending in on this particular utility to mask and camouflage their crimes.  So in short,  there will be a massive debate for this matter if this gonna work in long term or should be stopped already.

The protocol itself is open source and decentralized, so anyone can easily "revive" the mixer if there's enough interest into it. However, for some people, it may not be worth the risk as they could easily face prosecution from the US government (either through the US directly or through an allied country). While I don't support money laundering, the fact that the source code was removed from GitHub should be a reason of concern for both privacy and decentralization advocates. The government could easily shut down other mixers or "De-Fi" platforms if they're hosted on centralized servers. To achieve true decentralization and censorship-resistance, decentralized applications' web interface (mixers, lending protocols, etc) should be hosted on P2P networks (eg: IPFS) and use a decentralized domain name (preferably on-chain like ENS or Unstoppable.Domains). Even the source code should be hosted on a decentralized alternative to GitHub such as Radicle. But developers don't care about true decentralization these days, because they're only thinking about the money. Not only that, but making something completely decentralized would not be as easy to use for the average person.

Recently, the US' Secretary of State hinted the possibility of taking down other crypto mixers as well (read his tweet here). If decentralized isn't prioritized, then I'm afraid I'll be the end of ChipMixer, CashShuffle (BCH), CashFusion (BCH), and even privacy coins like DASH and Monero. We're going to have to see how this will end as crypto/Blockchain tech becomes more popular by the day. Just my opinion

DEFI was just a gimmick, the fact that if mostly of defi were actually centralized. The latest news https://www.coindesk.com/layer2/2022/08/12/an-alleged-tornado-cash-developer-was-arrested-are-you-next/

I have been predicting it to happen. It seems like more the developers of tornado being searched by the police. Tornado is still being developed by the developers. These developers become target by regulators and police. They were contributing to the tornado's existence will be jailed.