The Tornado Cash founder Roman Semenov says the mixer’s protocol is unstoppable and it is designed so that the third parties can’t control it so let’s read more today in our latest cryptocurrency news.
Romanov Semenov who is the co-founder of Ethereum’s Tornado cash mixing service said the privacy protocols are defending people’s rights to their financial privacy. Tornado cash Is a mixer that allows users to obfuscate their digital trail on the Ethereum blockchain and has been at the center of attention since it was revealed a week ago that the hackers were using it to mix stolen ETH from digital asset exchange crypto.com. The Tornado Cash founder Roman Semenov said that his team had little control over what the users do with the protocol as it is designed to be autonomous and outside of the control of the developers. He said:
“There is not much we can do in terms of helping investigations because the team doesn’t have much control over the protocol. The Tornado Cash team mostly does research and publishes the code to GitHub. All the deployments, protocol changes, and important decisions are made by the community via Tornado Governance DAO and deployment ceremonies [an event when new code is pushed live].”
Tornado Cash has a compliance tool that allows users to selectively disclose source of funds to a cex while keeping it private from everyone else
— Roman Semenov 🌪️ (@semenov_roman_) January 13, 2022
The way that the protocol is designed, autonomous and decentralized, similar to financial DEFI protocol means that there’s nobody in charge so there’s no corporate office, executive team, or CEO where all the buck stops. Semenov said that there’s no backend and the user interface came from the Ethereum Name Service domain which represents Ethereum addresses as familiar-sounding domain names:
“The protocol was specifically designed this way to be unstoppable, because it wouldn’t make much sense if some third party [like developers] would have control over it. This would be the same as if someone had control over Bitcoin or Ethereum.
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Tornado Cash is not the first service to offer the users the ability to mix and tumble crypto. These have been around since the start of blockchain technology with more development efforts increasing in parallel to the darknet markets such as Silk Road or Alpha Bay.
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Law enforcement is quite familiar with mixers and Bill Callahan who is a retired Drug Enforcement Agency agent said that he doesn’t think Tornado Cash is laundering money that equates to running away from the police and trying to evade the capture so there will be grounds to investigate it as a part of the scheme:
“If a mixer knows or maybe should have known, taken steps to know the source of the funds and the beneficial owner, and the funds are from an illicit source, they would be investigated as part of the money-laundering scheme. They could also be charged as an accessory to the crime in a criminal conspiracy.”
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