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If you trace back the addresses, you get to this: https://etherscan.io/address/0x6365abaad54863bfd11acb6c4b611403345a628a#internaltx https://etherscan.io/addre
by andrem 4y ago
If you trace back the addresses, you get to this:
https://etherscan.io/address/0x6365abaad54863bfd11acb6c4b611403345a628a#internaltx https://etherscan.io/address/0x6365abaad54863bfd11acb6c4b611...
Which in turn shows it came from Tornado Cash which was put on the OFAC blacklist in August. So redox will likely have a very hard time to get this converted.
See here for more https://www.coincenter.org/u-s-treasury-sanction-of-privacy-tools-places-sweeping-restrictions-on-all-americans/ https://www.coincenter.org/u-s-treasury-sanction-of-privacy-...
- caiomassan 4y agoif u use it with people that also accepts eth as a form of payment, there is no need to convert anything.
- prvit 4y ago>So redox will likely have a very hard time to get this converted. Why would he? People sell tornado cash tainted eth on big US exchanges every day. The sanctions don't forbid this.
- mjburgess 4y agoPretty sure that they do.
- prvit 4y agoBut in reality they don't.
- from 4y agoThe sanctions technically only forbid future interactions with Tornado Cash contracts. However the compliance employees would get a note from Chainalysis saying that this guy received a bunch of ETH that was indirectly sourced from Tornado Cash and potentially do something about it (Kucoin Bitfinex et al would probably do nothing).
- mudrockbestgirl 4y agoHe doesn't need to get it converted though. There are enough people that don't live in the US and would be happy to get paid in ETH to work on an open source project. In a way, it seems almost like a feature that he can't just take out and convert the money :)
- pavlov 4y agoIf the person who received the ETH is a US person, it may not be a great idea to use the tainted money to pay foreigners for services.
- prvit 4y agoBy that logic US persons can't use Ethereum at all. If you withdraw ETH from Coinbase it is very likely that those coins will have passed through tornado.cash at some point. This logic obviously doesn't hold up to even the slightest scrutiny. There's too much American money invested in Ethereum for any government agency to even seriously consider the idea of destroying it like this.
- aliqot 4y agoHey now you're getting it
- runako 4y ago> There's too much American money invested in Ethereum for any government agency to even seriously consider the idea of destroying it like this. The US government routinely spends enormous sums of money to destroy industries where significant amounts of American money is invested.
- fennecfoxen 4y ago> By that logic US persons can't use Ethereum at all. Entirely possible. > There's too much American money invested in Ethereum for any government agency to even seriously consider the idea of destroying it like this. I think you underestimate!!
- 4y ago
- devwastaken 4y agoThis is why eth/bitcoin are not suitable crypto. There should be no address trail, same as cash.
- happymellon 4y agoWouldn't the ledger dictate that there is a trail?
- Semaphor 4y agoI’m assuming they mean something like Monero (maybe also ZK-something). I don’t understand how it works, but enough people say they are anonymous, that I believe them ;)
- happymellon 4y agoWhen the IRS is offering $100k bounties to break the anonymous features, it sounds pretty secure. Although if there is enough interest in breaking the obfuscation, these things normally end up finding the hole. Only time will tell.
- thelittleone 4y agoIf I wanted people to think I hadn't cracked the anonymous features, I would post a $100k bounty to break it.
- JoshuaDavid 4y agoAnd when people go to collect on that bounty?
- happymellon 4y agoA lot of security companies with have multiple holes in a system. Having more backdoors isn't a bad thing.
- colinmhayes 4y agoMy understanding of the sanctions is that it's only the contract and a few addresses that are sanctioned. Coins that once went through tornado are fine.