This episode of Markets Daily is sponsored by Cracken.

It's Saturday, August 26, 2023, and this is Markets Daily from CoinDesk.

Hi, I'm Michelle Muso here with your featured story.

On today's show, we're taking a look at cryptocurrency mixer, Tornado Cash.

As always, just a reminder,

CoinDisc is a news source and does not provide investment advice. Today's piece comes from

CoinDesk's Nick Day. We'll be using Wondercraft AI to read the story.

The piece is titled,

Tornado Cash Devs,

arrested for allegedly helping North Korean hackers

launder $1 billion.

Tornado Cash developers, Roman Storm and Roman Seminov,

face allegations of money laundering and sanctions violations.

The Department of Justice has already arrested Storm.

The DOJ alleges more than $1 billion in transactions moved through the mixing service,

which tries to obscure who is behind crypto transactions. The tornado cash developers were charged

with money laundering and sanctions violations tied to their work with the privacy mixer

that the DOJ alleges, quote,

facilitated more than $1 billion in money laundering, including hundreds of millions, end quote,

for North Korea's Lazarus Group. The mixer, which obfuscates the origin of funds transacted through it,

was sanctioned last year by the U.S. Treasury Department's Office of Foreign Asset Control,

or OFAC, after allegations that Lazarus had laundered the funds from multiple crypto hacks through

...