This Week In The Metaverse: Tornado Cash Banned In US, Paris Hilton Plans To Enter The Sandbox

Things are moving quick in the metaverse, and in the more extensive universe of web3 all in all. Contingent upon who you ask, this modern, blockchain-based space is either the following enormous thing for promoting — and for nearly all the other things — or an overhyped prevailing fashion. This is the thing you really want to be aware from this past week:

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) reported on Monday that it had endorsed Tornado Cash, a crypto blending administration, “which has been used to launder more than $7 billion worth of virtual currency since its creation in 2019,” the Department claimed in a public statement. Remembered for that total, the public statement claims, is more than $455mn that was taken by a North Korea-supported hacking association called the Lazarus Group — “the largest known virtual currency heist to date,” as per the Department.