OKX to close accounts interacting with Tornado Cash
The post OKX to close accounts interacting with Tornado Cash appeared on BitcoinEthereumNews.com.
OKX chief operating officer Star Xu warned account holders against Tornado Cash (TORN), saying any interaction with the platform would result in a ban. In a statement posted on X, the CEO announced that any users who have been previously sanctioned will not be allowed to open new accounts on OKX. Moreover, per the statement, the crypto exchange will close down accounts of users making deposits from sanctioned entities such as Tornado Cash (TORN) and Garantex. 被制裁的人无法在okx成功开户。 对于已经开户成功用户：1. 从被制裁的主体比如 Garantex和 Tornado cash充值到okx 2. 从okx提币去被制裁的主体 都会触发合规风控，导致被清退账户。 制裁和普通人很遥远，大部分人完全不需要担心。 https://t.co/MTJ7OtQRny — Star (@star_okx) August 9, 2024 The move comes after an account holder on OKX, Satoshi Friends, told his followers on X that the exchange had blocked him from using the platform as a result of him having used Tornado Cash. #okx #urgentALL @okx EXCHANGE USERS ARE AT RISK Since 2019, I have been a partner of the OKX exchange, recommended it to you and actively used it myself. Until today, it worked honestly and stably. But today, I regret to admit that the exchange policy and all the… pic.twitter.com/fQiDRj6aHO — Satoshi Friends 🌱 (@slezisatoshi) August 8, 2024 Tornado Cash, founded in 2019 by a group of Russian nationals based in Europe, Roman Semenov, Alexey Pertsev, and Roman Storm, specializes in a type of anonymizing cryptography that uses software to obfuscate the origins of cryptocurrencies deposited through the service, effectively redistributing deposits into an array of small transactions that are difficult to track. In May 2024, Pertsev was sentenced to five years in prison for violating anti-money laundering laws due to transactions involving Tornado Cash. Labeled as privacy coins, entities such as Tornado Cash, but others like Monero and Zcash, have all had their share of run-ins with regulators. Tornado Cash, the largest and most used of the mixers, has been accused of…
Filed under: News - @ August 10, 2024 4:28 pm