Tornado Cash developer arrested in the Netherlands

The Netherlands Fiscal Intelligence and Investigation Service (FIOD) announced the arrest of a 29-year-old man in Amsterdam for his alleged involvement in the development of the cryptocurrency mixer project Tornado Cash. The U.S. Treasury Department on Monday sanctioned Tornado Cash for helping the North Korean hacker group Lazarus Group launder more than $455 million, a mixer designed to increase the anonymity of cryptocurrencies. The Dutch FIOD said it began a criminal investigation into Tornado Cash in June for reasons similar to those in the United States, where it is believed to have facilitated money laundering. Those behind Tornado Cash are suspected of making huge profits from an investigation that revealed at least $1 billion worth of criminally sourced cryptocurrency was laundered through the mixer.

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