Summary
TLDR: Tornado Cash was hit by sanctions, prompting Lazarus Group to use Sinbad as a mixer. Sinbad was seized by U.S. authorities, leading Lazarus to go back to Tornado Cash. One founder is arrested and awaiting trial for money laundering charges.
Key Points
1. Tornado Cash was hit by U.S. sanctions in August 2022, leading Lazarus Group to use the mixer Sinbad to hide their profits.
2. Sinbad was seized by U.S. authorities in November, prompting Lazarus to return to using Tornado Cash to obscure their illicit gains.
3. One of Tornado Cash’s founders, Roman Storm, has been arrested and is awaiting trial on money laundering charges, while another founder, Roman Semenov, has been charged but remains at large.