US DoJ convicts Tornado Cash co-founder for operating an unlicensed crypto mixer that laundered over $1Bn in illicit funds, including transactions linked to North Korea

This high-profile case underscores the growing role that crypto mixers can play in facilitating large-scale money laundering by providing criminals with the ability to obscure the origins of illicit funds. According to prosecutors, Storm knowingly operated Tornado Cash as an unlicensed money transmitting business, profiting from transactions that included proceeds from high-profile cybercrimes such as the Ronin hack attributed to the North Korean…