Cryptohack Roundup: Tornado Cash, Privacy Pools
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September 7, 2023
- Tornado Cash
Tornado Cash co-founder Roman Storm pleaded not guilty to charges of money laundering, U.S. sanctions violations and operating an unlicensed money transmitting business, Inner City Press reported. His alleged co-conspirator and mixer co-founder Roman Semenov, who was also accused of facilitating North Korean hackers in laundering stolen funds on the platform, is at large. Tornado developer Alexey Pertsev, who was arrested in 2022 on similar charges, was released from jail in April and is currently under house arrest, awaiting trial.
- Privacy Pools
A new research paper proposes an alternative to Tornado Cash called Privacy Pools that would give users financial privacy while being compliant with regulations. The paper is co-authored by Ethereum co-founder Vitalik Buterin, developer Ameen Soleimani, researcher Jacob Illum from Chainalysis, and academics Matthias Nadler and Fabian Schar. They describe the protocol as "a novel smart contract-based privacy-enhancing protocol" that uses zero-knowledge proofs to determine if the funds on the platform originated from lawful sources without revealing the complete transaction history, filtering transactions linked to illicit activities.