According to recent information disclosed by the reporter Colin Wu, Roman Semenov, the co-founder of Tornado Cash, has been added to the United States Office of Foreign Assets Control’s (OFAC) Specially Designated Nationals (SDN) List.
Tornado Cash has come under scrutiny for allegedly facilitating the laundering of billions of dollars since its inception in 2019. Semenov’s addition to the SDN list highlights the growing regulatory challenges decentralized protocols pose.
Tornado Cash Co-Founder’s Money Laundering Allegations
Tornado Cash, a smart contract mixer built on the Ethereum blockchain, allows users to mix their funds for increased privacy. However, its alleged involvement in money laundering activities has drawn the attention of regulatory authorities.
The US Treasury Department previously sanctioned Tornado Cash, citing its connection to the Lazarus Group, a North Korea-affiliated hacking organization. The group is known for stealing over $455 million in cryptocurr
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