Tornado Event Follow-up (Tornado Privacy Coin)
Tornado Cash is sanctioned for privacy features and mixing mechanisms, involving money laundering, and its governance token TORN has been delisted from Binance.
Event Timeline
Latest Progress in the Case of Tornado Cash Founder
Roman Storm is still awaiting trial, while Semenov is maintaining a free status in the Netherlands. The project community is trying to restore governance, but the ecological reconstruction still faces cautious scrutiny.
US Treasury Removes Tornado Cash from Sanctions List
The US Treasury announced that it would remove the smart contract and addresses of Tornado Cash from the sanctions list from March 21, 2025, indicating short-term compliance pressure relief, but the case of the founder is still ongoing.
Binance Stops TORN Withdrawals
Binance announced that it would stop supporting TORN withdrawals from March 7, 2024, requiring users to transfer out assets in advance, further restricting market access.
Binance Stops Trading TORN
Binance stopped trading TORN, and also removed the recharge permission, so users could no longer buy or recharge TORN.
Binance Delists TORN, Crash from $3.90 to $1.73 (-56%)
Binance announced that it would delist TORN governance tokens from November 27, with the price falling from $3.90 to $1.94 within an hour, and further dropping to $1.73 by evening, with a cumulative decline of over 55% within 24 hours.
Tornado Cash Founder Charged by DOJ
The US Department of Justice charged Roman Storm and Roman Semenov, co-founders of Tornado Cash, for assisting in money laundering and violating sanctions laws, prompting discussions about the legal boundaries of crypto privacy protocols.
Tornado Cash Sanctioned by US Treasury
The US Treasury OFAC added Tornado Cash and related addresses to the sanctions list, accusing it of being used for money laundering, including by Lazarus Group of North Korea, leading to legal risks for users.
Tornado Cash Launched: What is Tornado Cash?
Tornado is a privacy protocol based on Ethereum, allowing users to deposit funds, mix them, and then anonymously withdraw from the pool. It tracks the origin and destination of funds.