Dutch Cops Arrest 29-Year-Old Suspected Tornado Cash Developer #togrp7

On Wednesday, the Netherlands Crime Agency (FIOD) arrested a 29-year-old man in Amsterdam suspected to be the developer of Tornado Cash, which was recently sanctioned by the U.S. Treasury. “Today the suspect is brought before the examining judge, adding that “multiple arrests are not ruled out,” FIOD said

According to FIOD, the arrest intends to cut down on crypto mixers that have swarmed the industry and ripping off people billions of dollars. It is reported that mixer companies have touted the privacy benefit of increasing the anonymity of transactions involving currencies like bitcoin and Ethereum, which list transactions on blockchain technology accessible to the public. Cybercriminals have also used other services to launder money, Treasury officials said on Monday.#togrp7

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