Warning Against Tornado Cash: Account Holders on OKX
OKX chief operating officer Star Xu issued a cautionary statement to account holders regarding Tornado Cash (TORN). He emphasized that any engagement with the platform would lead to a ban on the user’s account. Additionally, Xu announced that individuals who have previously been sanctioned will not be permitted to create new accounts on OKX. The crypto exchange will also take action to close accounts of users depositing funds from sanctioned entities like Tornado Cash (TORN) and Garantex.
OKX Account Restrictions Linked to Tornado Cash
A recent incident involving a user named Satoshi Friends revealed that OKX had restricted his account access due to his association with Tornado Cash. This action by OKX follows a series of challenges faced by the exchange, including security vulnerabilities and incidents like SIM swapping attacks.
Tornado Cash and Regulatory Concerns
The increasing scrutiny on entities like Tornado Cash highlights the regulatory landscape surrounding cryptocurrency. Authorities in the US and EU are contemplating measures to regulate or even ban crypto mixers and privacy coins, prompting exchanges like OKX to take proactive steps to align with regulatory expectations.
