The Fiscal Information and Investigation Service (FIOD) of the Netherland announced that it has arrested the suspected developer of the Tornado Cash. Recently, a U.S agency launched sanctions over the crypto mixing platform.
More arrests to come in relation to Tornado Cash
Tornado Cash has been accused of laundering funds connected to cybercrimes. However, the U.S. Department of the Treasury sanctioned the crypto mixer for cleaning billion worth of funds.
As per the report, the detained person was produced in front of the examining judge. The agency suggested that multiple arrests can be done in the future regarding the investigation. However, it highlighted that FIOD is giving extra attention to these kinds of crimes lately.
The Financial Advanced Cyber Team (FACT) which works under FIOD launched an inquiry against Tornado Cash, back in June 2022. The FACT conducted that the platform was widely used to tuck away heavy funds involved in criminal activity. This also included crypto hacks, thefts, and scams.
It mentioned that the funds stolen by the North Korean hacking group were laundered by Tornado Cash. The FACT team suggests that since its inception in 2019, the crypto mixer platform made a turnover of around $7 billion.
