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14 August 2020

Developers of Ethereum Privacy Tool Tornado Cash Smash Their Keys - CoinDesk

Developers of Ethereum Privacy Tool Tornado Cash Smash Their Keys - CoinDesk


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Developers of Ethereum Privacy Tool Tornado Cash Smash Their Keys.

Tornado Cash, a privacy tool for obfuscating the history of Ether (ETH) transactions, completed a cryptographic process known as a trusted setup ceremony on May 10 followed by a contract update on Monday to create perpetually self-executing code.

As reported by CoinDesk, privacy protocol Aztec launched a network on Ethereum for digital assets, beginning with dai, while EY also released a business-focused privacy solution for Ethereum transactions in October 2018.

“While mixers, CoinJoins, and solutions like Tornado Cash can make tracing funds more difficult, Chainalysis can often still follow funds through them,” Kennedy told CoinDesk in an email.

In an email, the Financial Crimes Enforcement Network (FinCEN) told CoinDesk that mixers such as Tornado Cash could fall under the definition of a money transmitter, and therefore have “obligations” set by the Bank Secrecy Act (BSA).

For his park, Tornado Cash’s Storm said that now that the trusted setup has occurred, little can be pinned on the developers: self-executing code is self-executing code. 

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