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Tornado Cash Founders Charged in Billion-Dollar Crypto Laundering Scandal

Tornado Cash Founders Charged in Billion-Dollar Crypto Laundering Scandal

Aug 24, 2023 Cyber Crime / Cryptocurrency
The U.S. Justice Department (DoJ) on Wednesday  unsealed an indictment  against two founders of the now-sanctioned Tornado Cash cryptocurrency mixer service, charging them with laundering more than $1 billion in criminal proceeds. Both the individuals, Roman Storm and Roman Semenov, have been charged with conspiracy to commit money laundering, conspiracy to commit sanctions violations, and conspiracy to operate an unlicensed money-transmitting business. Storm, 34, is said to have been arrested in the U.S. state of Washington. Semenov, 35, remains at large in Dubai. They are alleged to have "made millions of dollars in profits" from promoting and operating the service. Tornado Cash is estimated to have processed upwards of $7 billion worth of crypto assets over a period of three years. In a related move, the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) sanctioned  Semenov and  eight cryptocurrency addresses  connected to him, days after a U.S. cou
Tornado Cash Developer Arrested After U.S. Sanctions the Cryptocurrency Mixer

Tornado Cash Developer Arrested After U.S. Sanctions the Cryptocurrency Mixer

Aug 14, 2022
Dutch authorities on Friday announced the arrest of a software developer in Amsterdam who is alleged to be working for Tornado Cash, days after the U.S. sanctioned the decentralized crypto mixing service. The 29-year-old individual is "suspected of involvement in concealing criminal financial flows and facilitating money laundering" through the service, the Dutch Fiscal Information and Investigation Service (FIOD)  said  in a statement. Although FIOD didn't reveal the name of the Tornado Cash engineer, The Block  identified  him as Alexey Pertsev, citing confirmation from his wife. "My husband didn't do anything illegal," she was quoted as saying. FIOD also alleged that "Tornado Cash has been used to conceal large-scale criminal money flows, including from (online) thefts of cryptocurrencies (so-called crypto hacks and scams)." The agency, which initiated an investigation into Tornado Cash in June 2022, further hinted it may make more arrests
SaaS Compliance through the NIST Cybersecurity Framework

SaaS Compliance through the NIST Cybersecurity Framework

Feb 20, 2024Cybersecurity Framework / SaaS Security
The US National Institute of Standards and Technology (NIST) cybersecurity framework is one of the world's most important guidelines for securing networks. It can be applied to any number of applications, including SaaS.  One of the challenges facing those tasked with securing SaaS applications is the different settings found in each application. It makes it difficult to develop a configuration policy that will apply to an HR app that manages employees, a marketing app that manages content, and an R&D app that manages software versions, all while aligning with NIST compliance standards.  However, there are several settings that can be applied to nearly every app in the SaaS stack. In this article, we'll explore some universal configurations, explain why they are important, and guide you in setting them in a way that improves your SaaS apps' security posture.  Start with Admins Role-based access control (RBAC) is a key to NIST adherence and should be applied to every SaaS a
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