OKX Takes Action: Accounts Involving Tornado Cash To Be Banned

The cryptocurrency exchange OKX has announced a firm policy banning accounts linked to the questionable mixing service Tornado Cash in an attempt to prevent illicit activity and promote compliance with international laws. According to OKX CEO Star Xu, any account found to be exploited by Tornado Cash or other authorized firms like Garantex would be cancelled without delay. 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 Tornado Cash Controversy Tornado Cash is recognized for hiding crypto transactions, which unscrupulous people exploit to launder money and commit other crimes. The firm is under more regulatory scrutiny after the US Treasury Department penalized it in 2023 for allowing over $7 billion in unlawful transactions. Related Reading: Bitcoin NVT Golden Cross Gives Bottom Signal: What Happened Last 2 Times OKX Compliance Measures Nowadays, OKX’s risk control systems are programmed to automatically find and close accounts linked to Tornado Cash or another approved company. Xu underlined that the interaction is necessary to follow relevant sanctions rules, particularly those enforced by the United States. OKX’s Tornado Cash crackdown follows allegations of the service sending stolen money via protocol attacks. On August 7, the Rain crypto exchange hacker laundered 1,155 Ether using Tornado Cash. #okx #urgent ALL @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

Aug 10, 2024 - 02:00

OKX Takes Action: Accounts Involving Tornado Cash To Be Banned

The cryptocurrency exchange OKX has announced a firm policy banning accounts linked to the questionable mixing service Tornado Cash in an attempt to prevent illicit activity and promote compliance with international laws.

According to OKX CEO Star Xu, any account found to be exploited by Tornado Cash or other authorized firms like Garantex would be cancelled without delay.

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

Tornado Cash Controversy

Tornado Cash is recognized for hiding crypto transactions, which unscrupulous people exploit to launder money and commit other crimes. The firm is under more regulatory scrutiny after the US Treasury Department penalized it in 2023 for allowing over $7 billion in unlawful transactions.

OKX Compliance Measures

Nowadays, OKX’s risk control systems are programmed to automatically find and close accounts linked to Tornado Cash or another approved company. Xu underlined that the interaction is necessary to follow relevant sanctions rules, particularly those enforced by the United States.

OKX’s Tornado Cash crackdown follows allegations of the service sending stolen money via protocol attacks. On August 7, the Rain crypto exchange hacker laundered 1,155 Ether using Tornado Cash.

#okx #urgent ALL @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 Read More