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.

US residents are presently prohibited from utilizing Tornado Cash because of Monday’s endorsing.

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