The Twister Money saga continues in the wake of the U.S. Treasury Department’s ban.
Key Takeaways
- Dutch authorities own detained a 29-yr-used “suspected developer” of Twister Profit Amsterdam.
- The Fiscal Records and Investigation Service printed an announcement saying the detainee is suspected of faciliating money laundering, including that extra arrests “are now not ruled out.”
- It follows the Treasury Department’s transfer to sanction the Ethereum mixing protocol this week.
Dutch authorities own arrested a 29-yr-used man they think was as soon as excited by increasing Twister Money.
Suspected Twister Money Developer Detained
The Fiscal Records and Investigation Service has weighed in on the Twister Money saga following the Treasury Department’s unparalleled transfer to sanction the protocol.
The Dutch monetary crime agency posted an update Friday confirming it arrested a “suspected developer of Twister Money” in Amsterdam on August 10.
Although FIOD didn’t ascertain the suspect’s identification, it talked about that a 29-yr-used man had been brought sooner than an examining rep. The submit additionally talked about that he had been detained on suspicion of facilitating money laundering by Twister Money. An excerpt read:
“On Wednesday 10 August, the FIOD arrested a 29-yr-used man in Amsterdam. He’s suspected of involvement in concealing prison monetary flows and facilitating money laundering by means of the blending of cryptocurrencies by means of the decentralised Ethereum mixing provider Twister Money.”
FIOD’s Financial Evolved Cyber Group talked about that it had been investigating Twister Money since June 2022, including that extra than one arrests “are now not ruled out.”
Twister Money is an Ethereum-based mostly protocol that helps users grasp privateness by obfuscating their transaction history. It’s one among Ethereum’s most in vogue protocols as it provides a mode to transfer cryptocurrencies with out compromising on privateness, something that in total isn’t imaginable when transacting between regular addresses given the overall public nature of blockchain technology. When any individual makes a deposit to Twister Money, they can withdraw their funds from one other tackle, making their tracks great harder to hint.
FIOD’s update comes after the U.S. Treasury Department’s Location of work of International Resources Sustain watch over added Twister Money and its dapper contracts to its sanctions checklist on August 8. Fancy FIOD, the U.S. government office talked about that Twister Money had enabled cybercriminals to launder money. The ban blocks all U.S. residents from gaining access to the protocol, and it was as soon as considered as principal since it marked the principle time the government had sanctioned a share of code.
The crypto community broadly decried the Treasury’s decision this week, and the fallout has been massive across the house. To this level, Circle, GitHub, Alchemy, Infura, and dYdX own all complied with the ban, prompting discussions about centralized earlier factors defying crypto’s decentralized ethos.
Disclosure: On the time of writing, the author of this share owned ETH and several other a vary of cryptocurrencies.
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