OKX Takes Action: Accounts Involving Tornado Cash To Be Banned

Name	Symbol	Market	Market Cap ($)	Algorithm
Dogecoin	DOGEUSD	Crypto	18,523,391,058	Scrypt

Name

Symbol

Market

Market Cap ($)

Algorithm

Dogecoin

DOGEUSD

Crypto

18,523,391,058

Scrypt

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.009724	8.28%	0.1272	0.12716	0.12719

Price Change

Price Change %

Current Price

Bid Price

Offer

0.009724

8.28%

0.1272

0.12716

0.12719

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.12745	0.115864	0.116738	0.117476	0.057430 - 0.228990

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.12745

0.115864

0.116738

0.117476

0.057430 - 0.228990

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	10:42:19	12,724.00	0.1272	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

10:42:19

12,724.00

0.1272

USD

Price x Volume	Volume	Base Symbol	Related Pairs
30,669,210.99	250,615,039.36	DOGE	DOGEEUR	DOGEGBP	DOGEBTC

Price x Volume

Volume

Base Symbol

Related Pairs

30,669,210.99

250,615,039.36

OKX Takes Action: Accounts Involving Tornado Cash To Be Banned

09/08/2024 10:30pm

NEWSBTC

The cryptocurrency exchange OKX has announced a firm policy banning accounts linked to the questionable mixing service Tornado Cash in an attempt to prevent illicit activity and promote compliance with international laws. According to OKX CEO Star Xu, any account found to be exploited by Tornado Cash or other authorized firms like Garantex would be cancelled without delay. 被制裁的人无法在okx成功开户。对于已经开户成功用户： 1. 从被制裁的主体比如 Garantex和 Tornado cash充值到okx 2. 从okx提币去被制裁的主体都会触发合规风控，导致被清退账户。制裁和普通人很遥远，大部分人完全不需要担心。 https://t.co/MTJ7OtQRny — Star (@star_okx) August 9, 2024 Tornado Cash Controversy Tornado Cash is recognized for hiding crypto transactions, which unscrupulous people exploit to launder money and commit other crimes. The firm is under more regulatory scrutiny after the US Treasury Department penalized it in 2023 for allowing over $7 billion in unlawful transactions. Related Reading: Bitcoin NVT Golden Cross Gives Bottom Signal: What Happened Last 2 Times OKX Compliance Measures Nowadays, OKX’s risk control systems are programmed to automatically find and close accounts linked to Tornado Cash or another approved company. Xu underlined that the interaction is necessary to follow relevant sanctions rules, particularly those enforced by the United States. OKX’s Tornado Cash crackdown follows allegations of the service sending stolen money via protocol attacks. On August 7, the Rain crypto exchange hacker laundered 1,155 Ether using Tornado Cash. #okx #urgent ALL @okx EXCHANGE USERS ARE AT RISK Since 2019, I have been a partner of the OKX exchange, recommended it to you and actively used it myself. Until today, it worked honestly and stably. But today, I regret to admit that the exchange policy and all the… pic.twitter.com/fQiDRj6aHO — Satoshi Friends 🌱 (@slezisatoshi) August 8, 2024 Response To User Concerns Xu said that the user has before made large transactions via approved exchanges or DeFi systems. The individual was still allowed to withdraw clean money before their account was banned nonetheless. Emphasizing that OKX cannot provide services to sanctioned individuals or companies, Xu clarified that compliance concerns made it impossible to move data from an old account to a new one. Xu informed the wider user base that most consumers operate distant from approved businesses, hence most of them are unlikely to be harmed. He underlined that preserving the commitment of the exchange to financial integrity and regulatory compliance depends on these steps. Related Reading: Dogecoin Price (DOGE) Poised for a Steady Increase, Inspired by Bitcoin Impact On Tornado Cash OKX’s deactivation of Tornado Cash accounts follows a crypto industry trend towards regulatory compliance and legality. Binance and Kraken both delist privacy coins and prohibit mixing. Roman Semenov, Alexey Pertsev, and Roman Storm—a trio of Russian immigrants living in Europe—founded Tornado Cash in 2019. Pertsev was sentenced to five years in jail in May 2024 for breaking anti-money laundering regulations with transactions utilizing Tornado Cash. Featured image from Pexels, chart from TradingView

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

DOGEUSD Dogecoin