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Treasury Sanctions Crypto Program That Helped North Koreans Launder Funds

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Treasury Sanctions Crypto Program That Helped North Koreans Launder Funds

The Treasury Department on Monday issued sanctions against a cryptocurrency service that allowed North Korean hackers and others to launder billions of dollars worth of digital tokens stolen in virtual heists.

The service, Tornado Cash, is something called a mixer, and it aggregates digital assets to hide their ownership. Since its launch in 2019, the program has laundered more than $7 billion in digital assets, according to the Treasury Department.

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