Troll sends celebs ETH from Tornado Cash in order to address a potential regulatory problem. An anonymous user made a large number of transactions on Tornado Cash on Tuesday to addresses of celebrities in order to accomplish his mission.
Troll Send Celebs ETH from Tornado Cash
According to Etherscan, affected wallets include those run by Coinbase CEO Brian Armstrong, TV presenter Jimmy Fallon, sportswear company Puma, and a wallet intended for donations to Ukraine. Popular cryptocurrency figures like the artist Beeple and more well-known figures like the comedian Dave Chappelle received ether (ETH).
— joseph.eth (@josephdelong) August 9, 2022
The Office of Foreign Asset Control (OFAC), a government watchdog within the Treasury Department, sanctioned Tornado Cash on Monday, forbidding Americans from interacting with or conducting business with the privacy service.
Anyone in the United States as well as any American citizen abroad is considered a U.S. person. Tornado Cash is a mixer, a system used to combine funds in an effort to conceal the source of any particular transaction. The revenues from North Korea’s hacking of multiple cryptocurrency exchanges and services, according to U.S. officials, were among the large number of dollars passing through the mixer that were linked to illegal activity.
The concept to donate 0.1 ETH to celebrity wallets appears to have first surfaced on Twitter on Monday in a post by user Depression2019, who has subsequently reposted screenshots of the on-chain transactions.
The Troll’s Point
The joke cleverly draws attention to the folly of imposing such penalties on users who receive money from addresses on a blacklist but are unable to refuse it. Contrary to the traditional financial sector, which would use banks and other financial institutions to act as gatekeepers against such transactions, crypto is supposed to be open, eliminating intermediaries.
Due to the fact that Tornado Cash is a sanctioned company, American citizens would probably be required by law to ban incoming transactions from its wallets. U.S. citizens are required by OFAC regulations to freeze any transactions or money sent from Tornado Cash.
On-chain transfers cannot be blocked, thus exchanges and other parties would have to do so in order to prevent the addresses from being used.
Celebrities and companies with open wallets that are not run by exchanges or other comparable entities may find this challenging.
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