Tornado Cash Under Fire: OKX's New Policy Explained

OKX, a leading cryptocurrency exchange, is implementing strict measures against users involved with Tornado Cash.

Tornado Cash is a service that helps users hide the origin and destination of their cryptocurrency transactions.

OKX CEO Star Xu stated that any accounts interacting with Tornado Cash will be terminated to strengthen compliance with international sanctions.

Xu emphasized that depositing money from sanctioned entities into OKX accounts will trigger account closures.

A user, Satoshi Friends, warned others to withdraw their funds from OKX due to potential account blocks and frozen assets.

Xu acknowledged user concerns and explained that strict compliance policies are necessary to protect the exchange.

Tornado Cash has been linked to laundering stolen funds, including recent incidents involving over 1,100 Ether from hacks.

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