{"id":1245,"date":"2024-05-14T12:43:51","date_gmt":"2024-05-14T12:43:51","guid":{"rendered":"https:\/\/www.tsfactory.com\/forums\/?p=1245"},"modified":"2024-05-14T12:43:51","modified_gmt":"2024-05-14T12:43:51","slug":"the-2-3-billion-tornado-cash-case-is-a-pivotal-moment-for-crypto-privacy","status":"publish","type":"post","link":"https:\/\/www.tsfactory.com\/forums\/blog\/the-2-3-billion-tornado-cash-case-is-a-pivotal-moment-for-crypto-privacy\/","title":{"rendered":"The $2.3 Billion Tornado Cash Case Is a Pivotal Moment for Crypto Privacy"},"content":{"rendered":"<p>In the fall of 2020, as crypto scammers and thieves began to realize the full potential of a financial privacy tool called Tornado Cash\u2014a clever new system capable of shuffling users&#8217; funds to cut the trail of crypto transactions recorded on the Ethereum blockchain\u2014Alexey Pertsev, one of the creators of that service, sent a note to his fellow cofounders about this growing issue. He suggested crafting a standard response to send to victims pleading with Tornado Cash for help with stolen funds laundered through their service. \u201cWe must compose a message that we will send to everyone in similar cases,\u201d Pertsev, the then-27-year-old Russian living in the Netherlands, wrote to his colleagues.<\/p>\n<p>Tornado Cash cofounder Roman Semenov answered three minutes later with a draft of their stock response\u2014essentially pointing to the fact that the service&#8217;s novel design meant it ran on the Ethereum blockchain, not on any server they owned, and was thus out of their hands. \u201cIt is a decentralized software protocol that no one entity or actor can control,\u201d the message read. \u201cFor that reason, we are unable to assist with respect to any issues relating to the Tornado Cash protocol.\u201d<\/p>\n<p><a href=\"https:\/\/www.wired.com\/story\/tornado-cash-money-laundering-case-crypto-privacy\/\">Read the Full Story Here<\/a><\/p>\n<p>Source: Wired<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the fall of 2020, as crypto scammers and thieves began to realize the full potential of a financial privacy tool called Tornado Cash\u2014a clever new system capable of shuffling users&#8217; funds to cut the trail of crypto transactions recorded on the Ethereum blockchain\u2014Alexey Pertsev, one of the creators of that service, sent a note [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1246,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1245","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.9 - 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