A Friday update revealed that the Fiscal Information and Investigation Service (FIOD), a legal financial corruption scrutiny body in the Netherlands, has apprehended a 29 years old male suspect in Amsterdam.
The suspect is charged with involvement in concealing illegally obtained funds from the decentralized Tornado Cash mixing protocol.
According to the financial corruption administration, the apprehended agent was fully engaged in aiding the criminal actions of laundering currencies through the infamous Tornado Cash mixing system.
Past realities purported that the Tornado Cash mixing protocol has been employed to effectively launder huge sums of illegally acquired funds from the crypto space and other digital areas, the Financial Advanced Cyber Team (FACT) explained.
FIOD highlighted that it does not at all exclude the need for numerous detentions to solve the Tornado Cash laundering scrutiny issue initiated by FACT in June 2022.
The investigatory update follows the US Treasury committee’s embargo placed by the Office of Foreign Asset Control (OFAC) on a variety of Tornado Cash addresses on August 8.
Thereafter, the prominent digital currency protocol Circle set a restriction on 75,000 USDC connected to the OFAC enlisted banned addresses.
The embargo has made interactions with Tornado Cash mixing addresses within the United State axis unlawful and the punishment for default spans between 10 to 30 years of detention and a $50,000 to $10,000,000 charge.
