Within the week following the sanctioning of the Twister Money web site by the U.S. Treasury Division’s Workplace of International Property Management (OFAC), the value of the token underpinning the system is down 56%, beginning the week at a excessive of $31.56 and ending the week at a low of $13.09, in keeping with CoinMarketCap.
Twister Money (TORN) is an ERC20 token and the native token of the Twister Money DAO, used to handle governance and voting. It’s presently the 691st largest cryptocurrency, with a market capitalization of $15.5 million.
After the U.S. Treasury issued its sanctions and Github took the Twister Money web site offline by eradicating its repository from the positioning, the token value started to slip.
Launched in 2019, Twister Money is a blockchain protocol for sending and receiving nameless transactions by mixing Ethereum tokens with a pool of different tokens, anonymizing the consumer.
In its sanctioning of Twister Money, the U.S. Treasury cited its use by the North Korean hacker group Lazarus Group and the laundering of over $103.8 million from the hacks of the Horizon Concord Bridge and Nomad Token Bridge earlier this summer season.
Following a debate by the Twister Money neighborhood, the Discord server for the group disappeared, and unknown individuals took the discussion board on the Twister Money neighborhood web site offline as effectively. On the similar time, a member of the developer group behind Twister Money was taken into custody by legislation enforcement within the Netherlands.
They arrested the developer of twister money. 🚨
I repeat: a person was arrested for writing code that served as a public good for individuals to keep up their privateness on-line.
They put a person in jail as a result of unhealthy individuals used his open supply code.
This can not stand in any free society.
— RYAN SΞAN ADAMS – rsa.eth 🦇🔊 (@RyanSAdams) August 12, 2022
The U.S. Treasury’s Fiscal Data and Investigation Service (FIOD) stated its felony investigation into Twister Money started in June 2022.
This crypto winter seems to be particularly harsh for the Twister Money neighborhood. Coupled with the present bear market, sanctions, shutdowns, and arrests appear to have dealt a physique blow to the venture as holders proceed to flee.
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