- The new coin mixing app’s demo will be available for download tomorrow.
- Soleimani claims he had nothing to do with the development of Tornado’s code.
The renowned “coin mixer” Tornado Cash was prohibited in the United States last year. But, the Ethereum community has been hard at work on a solution, Privacy Pools, that they think would deter the federal government from interfering.
In August, the U.S. Treasury Department placed restrictions on Tornado Cash because of concerns that criminals, particularly the North Korean state-sponsored hackers of the Lazarus Group, were using it to launder illicit funds.
New Security Element
The new coin mixing app’s demo will be available for download tomorrow, and it will allow users to transfer and receive Ethereum, the second largest cryptocurrency, without being traced. Nevertheless, this time around, there is a security element that verifies the user is not a threat from North Korea or any other criminal organization.
Alexey Pertsev, the app’s principal creator, was detained by Dutch authorities and will stay in prison until his April hearing. Today, Privacy Pools (currently only a demo and not audited) tries to carry up where Tornado Cash left off, except in a manner that regulators and law enforcement will leave it alone.
The creator of the programme, Ameen Soleimani, told that his goal was not to create a permanent alternative but rather to spark discussion.
While Soleimani claims he had nothing to do with the development of Tornado’s code, he is often cited as an early contributor to the project. Soleimani told that he contributed to Tornado’s original financing via the developer’s MolochDAO, and that he also helped shape the project’s path in its early stages.
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