- A federal court ruled in favor of the U.S. Treasury Department's authority to impose sanctions on cryptocurrency mixer Tornado Cash.
- U.S. District Judge Robert Pitman granted summary judgment in support of the Treasury's Office of Foreign Assets Control (OFAC) citing #Tornado #Cash under sanctions statutes.
- Users of Tornado Cash claimed violations of their First Amendment rights, arguing they used the mixer for political and social cause donations. However, the judge disagreed, finding no demonstrated First Amendment implications.
- The court deemed Tornado Cash an "association" subject to sanctions under the International Emergency Economic Powers Act.
- The court also established that smart contracts used by Tornado Cash are "property" subject to OFAC's expansive regulatory definitions.
- Coinbase's chief legal officer, Paul Grewal, who backs the lawsuit, maintained that their challenge to OFAC's Tornado Cash action is valid and believes the issues warrant Fifth Circuit appellate review.
- #CertiK has raised an alert about a significant liquidity removal related to a fraudulent #LayerZero token.
- The deployer withdrew 4,827.99 WBNB, valued at around $1 million.
- The token was promoted in a Russian-speaking Telegram group called "KryptoAtom - криптотренды" (KryptoAtom - crypto trends), causing worries about potential confusion with genuine projects.
- #BALD deployers have reportedly conducted substantial transactions to the crypto exchange, following similar transfers made in the previous month.
- According to Odaily News, a total of 5,448 ETH (approximately $9.1 million) was transferred to Binance.
- The transactions occurred in a short timeframe, involving an initial transfer of 2,000 ETH, followed by two separate transfers of 1,725 ETH and 1,723 ETH.
- These actions come after reports on August 14, when BALD deployers moved 7,000 ETH ($12.9 million) to Ethereum and added 2,100 ETH ($3.87 million) to Kraken.
- The sizable movement of funds may suggest substantial activity within the BALD ecosystem.
