This Week on Crypto Twitter: Tornado Cash Crackdown Destroys Crypto Party, North Korean Hackers Post Fake Coinbase Jobs

Illustration by Mitchell Preffer for decoding

Cooling down with crypto prices double digit percentages in the week heading into the fall, it’s fair to say that any hiatus from crypto’s lingering winter this year has been fleeting.

A recent wave of large scale attacks and bankruptcies have put the industry on edge. It’s not just thieves and insolvent cryptocurrency lenders that sound the alarm, it’s also western governments, especially the US and the Netherlands, and their policies on Tornado Cash, a transaction privacy tool, which works by mixing users’ crypto into a common pool before it is released. being send. to the intended destination.

Last week, the US Treasury Department decided to ban US citizens from using Tornado Cash or transacting with Ethereum addresses associated with the Tornado community. That Friday, the Tax and Customs Administration (FIOD) Stop an “alleged” developer of Tornado Cash. The crypto community and privacy advocates criticized the move as a declaration of war to coders.

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Neeraj Agrawal, director of communications at crypto think tank Coin Center, has announced that his organization is challenging US sanctions against Tornado in court.

Sam Canavos, Legal Officer at the DeFi Education Fund, contacted FIOD for more information about the Tornado developer’s arrest and shared the responses received.

The DeFi Education Fund followed up the next day with a tweet saying that the FIOD statement “raises more questions than it answers.”

In a similar story, Chinese blockchain journalist Colin Wu tweeted that crypto exchange FTX froze the account of a user who sent crypto to another blockchain privacy mixer called Aztec Network. FTX CEO Sam Bankman-Fried responded by pointing out that no accounts have been frozen to his knowledge.

Aztec Network responded later that week, saying it “take active actionto ensure that the service is not used by money launderers and other criminals.

Counterfeit Ads

On Tuesday, internet security researchers from ESET Labs tweeted about a fake job posting on Coinbase. The PDF file is actually a Trojan horse deployed by the North Korean state-sponsored cybercriminal hacking group Lazarus.

Thursday, the Twitter user @tier10k warned that a fake Securities and Exchange Commission message was also doing the rounds online.

To finish…

The Ethereum names service kicked off the week with the announcement that the number of .ENS domain name registrations has doubled in the past three months. Ethereum Name Service allows users to register memorable domains for their crypto wallets, rather than being limited to the heavy string of random numbers and letters that a blockchain address typically represents.

Wednesday, the Twitter user @mochains shared news about new crypto regulations in Canada. According to the announcement he shared, Canadian authorities have selected Bitcoin, Ethereum, Litecoin and Bitcoin Cash as “unlimited cryptocurrencies”. All other cryptos are capped at $30,000 per year.

Later that day, Twitter CEO Brian Armstrong answered an important question.

Also that day, Ukrainian Deputy Prime Minister Mykhailo Federov shared a count that revealed what his country has spent its crypto donations on since the Russian invasion began.

Tesla CEO Elon Musk has jokingly announced that he is taking over Manchester United. MicroStrategy CEO Michael Saylor has a better idea.

Finally, Bitcoin hodler Hodlonaut wants you to help him defend his claim that Dr. Craig Wright, a man who claims to have invented Bitcoin, is not the Satoshi he claims to be.

Recently, the British Supreme Court ruled that Dr. Wright had been sued fake evidence in his latest libel lawsuit against crypto podcaster Peter McCormack, who, like Hodlonaut, has repeatedly called Wright a liar. McCormack was asked to pay Wright £1 ($1.18) in damages.

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