Tornado Cash DAO goes offline after vote on treasury funds

According to Cointelegraph, Tornado Cash DAO going offline was followed by a discussion in which community members voted unanimously to add its governance layer as a signatory to its treasury’s multisig wallet, which manages reportedly $21.6 million

Tornado Cash DAO goes offline after vote on treasury funds
Circle froze more than 75,000 USD Coin worth of funds on addresses listed by treasury officials

Tornado Cash Decentralised Autonomous Organisation (DAO) went offline after reports from various social media platforms and users reported the community discussing ways to challenge sanctions recently imposed by the United States Treasury Department’s Office of Foreign Asset Control (OFAC), as reported by Cointelegraph.

According to Cointelegraph, Tornado Cash DAO going offline was followed by a discussion in which community members voted unanimously to add its governance layer as a signatory to its treasury’s multisig wallet, which manages reportedly $21.6 million. The reason behind the organisation going offline is still unclear but it was followed by a series of actions taken by different authorities and private entities in the wake of US sanctions, which were announce against the controversial mixer. 

Cointelegraph’s data stated that Circle froze more than 75,000 USD Coin (USDC) worth of funds on addresses listed by treasury officials, with dYdX saying that it had blocked some users’ accounts with funds linked to Tornado Cash. Alchemy and Infura.io blocked remote procedure call requests to the cryptocurrency mixer. Actions by centralised firms extended beyond those against transactions with the cryptocurrency mixer, and into communication platforms.Roman Semenov, co-founder, Tornado Cash, reported that developer platform GitHub has suspended his account, and Discord users said the channel for the mixer also went offline. The reasons still remain unclear as to why neutral channels including Discord would be taken down in response to US sanctions. 

Information from Cointelegraph mentioned that before the sanctions were imposed, Vitalik Buterin, co-founder, Ethereum, emphasised about his usage of Tornado Cash to donate funds to Ukraine, with the aim to achieve financial privacy for the recipients of the country. An anonymous individual also used the cryptocurrency mixer to send Ether (ETH) to many high-profile individuals in order to challenge the extent to which sanctions are imposed.

(With insights from Cointelegraph)

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