Breaking: Blockchain Devs Build Alternate Website To Counter U.S. Ban

Nidhish Shanker
August 9, 2022
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
ETH Gate: US SEC Clears Bill Hinman Over Ethereum Speech

Yesterday, the US treasury sanctioned the digital currency mixer, Tornado Cash, for alleged money laundering worth billions. In a statement, the office of Foreign Assets Control accused Tornado Cash of laundering money from cyber crimes. According to them, the company also allowed the activities of a US-sanctioned crypto hacking group.

It was also revealed that Tornado Cash GitHub accounts and the entire codebase have been removed.

However, it appears that the blockchain community is quickly uniting against the ban. An alternate website, with continued access to Tornado Cash, has already been developed.

Advertisement
Advertisement

Blockchain Community Unites Against The Ban

Patrick Collins, a major blockchain influencer and developer advocate for Chainlink, has called the move to sanction Tornado Cash a wrong one. According to him, privacy preservation is a big part of the fight against any hacker group. By banning the company, the US Treasury is playing into the hands of the hackers.

There is also the issue of whether or not the company itself was aiding in money laundering. Jerry Brito, the executive director of Coin Center, states that Tornado is a neutral company. According to him, every technology, just like the internet, can have good and bad uses. 

Jake Chervinsky, the head of policy of the Blockchain Association, has also called into question the actions of the US Treasury. According to him, the move crosses a line that the US has always abided to as a matter of good policy.

Collins also reveals that Tornado Cash had many good uses, including hiding the deployment address of smart contracts. To him, code is speech, and removing the entire codebase is a matter of first amendment violation.

Advertisement
Advertisement

How To Still Use Tornado Cash

Patrick Collins reveals that many developers are already preparing a plan of defense against the ban. They have also developed a website with an obscure link to continue to access the sanctioned website. 

A search of the string “bafybeicu2anhh7cxbeeakzqjfy3pisok2nakyiemm3jxd66ng35ib6y5ri” takes the users to the website where they can still access Tornado Cash.

Advertisement
coingape google news coingape google news
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Nidhish is a technology enthusiast, whose aim is to find elegant technical solutions to solve some of society's biggest issues. He is a firm believer of decentralization and wants to work on the mainstream adoption of Blockchain.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.