Tornado Cash’s Trouble Puts Privacy on Notice: Bloomberg Crypto

In this edition of the Bloomberg Crypto newsletter, Hannah Miller talks crypto privacy after Tornado Cash:

Do not mix

Privacy has always been a cornerstone of the crypto industry, but the legal action taken last week by the US government against the founders of Tornado Cash shows the limits of keeping identities under wraps.

Tornado Cash is a “crypto-mixing” service that adds another layer of security to digital-asset transactions by pooling funds from different transactions before distributing them, thus making it harder to trace them to their original source. The US alleges two of the startup’s founders helped launder more than $1 billion ...