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The Defiant 2025-03-21 18:41:26

Tornado Cash Token Soars as U.S. Lifts OFAC Sanctions

Tornado Cash, a non-custodial and decentralized crypto mixing protocol, has been removed from the U.S. Treasury Department’s sanction list, sending the protocol's native TORN token soaring 35%. The protocol was targeted by the department's Office of Foreign Assets Control (OFAC) in August 2022, when the agency claimed Tornado was used to launder over $7 billion worth of cryptocurrency, with nearly half a billion allegedly laundered by North Korea’s notorious Lazarus Group. TORN has been on the rise since shortly after the United States presidential election in November. The token was trading at $2.1 pre-election and rallied 470% from $3.5 to $20 on Nov. 27 when a U.S. court overturned the sanctions. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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