{"id":47956,"date":"2022-08-12T10:52:23","date_gmt":"2022-08-12T10:52:23","guid":{"rendered":"https:\/\/watcher.guru\/news\/?p=47956"},"modified":"2022-08-12T10:58:04","modified_gmt":"2022-08-12T10:58:04","slug":"dutch-authorities-nab-suspected-tornado-cash-developer","status":"publish","type":"post","link":"https:\/\/watcher.guru\/news\/dutch-authorities-nab-suspected-tornado-cash-developer","title":{"rendered":"Alleged Tornado Cash Developer Arrested in the Netherlands"},"content":{"rendered":"\n<p>Amidst the bear market and a plethora of bankruptcy filings, the name of crypto mixing service, Tornado Cash kept surfacing. The platform became a <a href=\"https:\/\/watcher.guru\/news\/celebs-receive-ethereum-dust-from-tornado-cash-whats-cooking\">go-to spot for hackers<\/a>. Since the Ethereum-based firm allowed users to hide the origin of transactions, a significant amount of illegal funds were being moved through it. The US decided to retaliate by <a href=\"https:\/\/watcher.guru\/news\/tornado-cash-an-ethereum-based-coin-mixer-sanctioned-by-us-goverment\">imposing sanctions<\/a> on the platform. Dutch authorities, however, took a step ahead and arrested a developer suspected of being involved in the crypto mixing service. <\/p>\n\n\n\n<p>The Dutch Fiscal Information and Investigation Service [FIOD] rolled out a statement revealing the arrest of an unidentified 29-year-old man in Amsterdam. <\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">JUST IN: \ud83c\uddf3\ud83c\uddf1 Netherlands authorities arrest suspected Tornado Cash developer.<\/p>&mdash; Watcher.Guru (@WatcherGuru) <a href=\"https:\/\/twitter.com\/WatcherGuru\/status\/1558035010510155776?ref_src=twsrc%5Etfw\">August 12, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>In the statement, the FIOD claims that the developer was suspected of <strong>&#8220;concealing criminal financial flows and facilitating money laundering through the mixing of cryptocurrencies through the decentralized Ethereum mixing service Tornado Cash.&#8221;<\/strong><\/p>\n\n\n\n<p>It should be noted that the arrest was carried out back on the 10th of August. Today, however, the suspect in the case was being presented before the examining judge.<\/p>\n\n\n\n<p>Currently, the Public Prosecutor\u2019s Office for serious fraud, environmental crime, and asset confiscation were preceding the investigation. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-are-tornado-cash-s-halcyon-days-officially-over\">Are Tornado Cash&#8217;s Halcyon days officially over?<\/h3>\n\n\n\n<p>Tornado Cash had been thriving throughout the bear market. Just when the platform thought that it couldn&#8217;t be shaken, the US government slapped it with OFAC sanctions. The Dutch authorities commenced their investigation back in June 2022. The Financial Advanced Cyber Team [FACT] of the FIOD has been overseeing the Tornado Cash case ever since.<\/p>\n\n\n\n<p>The statement <a href=\"https:\/\/www.fiod.nl\/arrest-of-suspected-developer-of-tornado-cash\/\">read<\/a>, <\/p>\n\n\n\n<p><strong>&#8220;FACT suspects that through Tornado Cash has been used to conceal large-scale criminal money flows, including from (online) thefts of cryptocurrencies (so-called crypto hacks and scams). These included funds stolen through hacks by a group believed to be associated with North Korea.&#8221;<\/strong><\/p>\n\n\n\n<p>Furthermore, the latest news would bring respite to many. However, <a href=\"https:\/\/watcher.guru\/news\/will-north-korea-emerge-as-a-hub-for-crypto-hackers\">North Korean<\/a> hackers are likely to have a tough time. <\/p>\n","protected":false},"excerpt":{"rendered":"Amidst the bear market and a plethora of bankruptcy filings, the name of crypto mixing service, Tornado Cash\u2026\n","protected":false},"author":16,"featured_media":47959,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"csco_singular_sidebar":"","csco_page_header_type":"","csco_appearance_grid":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"footnotes":""},"categories":[5],"tags":[50,20,3244],"class_list":{"0":"post-47956","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ethereum","8":"tag-cryptocurrency","9":"tag-ethereum","10":"tag-tornado-cash","11":"cs-entry","12":"cs-video-wrap"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Alleged Tornado Cash Developer Arrested in the Netherlands<\/title>\n<meta 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