Who is the founder of Tornado Cash (TORN) coin?

Roman Semenov, also known as "0x14," is the founder of Tornado Cash, a privacy-focused cryptocurrency mixing service.

Dec 06, 2024 at 01:55 pm

Who is the Founder of Tornado Cash (TORN) Coin?

Tornado Cash is a privacy-focused cryptocurrency mixing service that was launched in January 2019. The service allows users to send and receive cryptocurrency anonymously by mixing their funds with those of other users. This makes it difficult for third parties to track the movement of funds and identify the sender and recipient.

The founder of Tornado Cash is Roman Semenov, a Russian software developer and privacy advocate who is better known by his online alias "0x14". Semenov is a long-time contributor to the open-source software community and has worked on a variety of privacy-enhancing technologies, including the Monero cryptocurrency and the Tor anonymity network.

Semenov has been a vocal critic of centralized cryptocurrency exchanges and believes that privacy is essential to the future of cryptocurrency. He has said that he created Tornado Cash to make it easier for people to protect their financial privacy.

Tornado Cash has been met with mixed reactions from the cryptocurrency community. Some users have praised the service for its privacy features, while others have criticized it for being used for illicit activities, such as money laundering.

In April 2022, the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) sanctioned Tornado Cash for allegedly being used to launder over $7 billion in cryptocurrency. The sanctions bar U.S. citizens and businesses from using the service and freeze any assets held by Tornado Cash or its employees.

Despite the sanctions, Tornado Cash remains operational. The service's developers have said that they are committed to protecting the privacy of their users and will continue to develop the service.

Steps on How to Use Tornado Cash:

1. Install the Tornado Cash extension. The Tornado Cash extension is available for Google Chrome and Firefox. Once you have installed the extension, you will be able to access the Tornado Cash website and begin using the service.

   • On the Tornado Cash website, you will be asked to create a new wallet. You can create a new wallet using a seed phrase or by importing an existing wallet.
   • Once you have created a wallet, you can deposit cryptocurrency into the wallet. Tornado Cash supports a variety of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.

   • Once you have deposited cryptocurrency into your wallet, you can begin using the Tornado Cash mixing service. The mixing service works by combining your cryptocurrency with the cryptocurrency of other users. This makes it difficult for third parties to track the movement of funds and identify the sender and recipient.

     • Once your cryptocurrency has been mixed, you can withdraw it to a new wallet. You can withdraw your cryptocurrency to any wallet that supports the cryptocurrency that you deposited.

2. Choose the amount of cryptocurrency that you want to mix. You can mix any amount of cryptocurrency, but the larger the amount, the more expensive the transaction will be.

   • Once you have chosen the amount of cryptocurrency that you want to mix, you can submit the transaction. The transaction will take a few minutes to complete.
   • Once the transaction is complete, your cryptocurrency will have been mixed with the cryptocurrency of other users. You will now be able to withdraw the cryptocurrency to a new wallet.

3. Withdraw your cryptocurrency. Once your cryptocurrency has been mixed, you can withdraw it to a new wallet. You can withdraw your cryptocurrency to any wallet that supports the cryptocurrency that you deposited.

   • To withdraw your cryptocurrency, simply enter the amount of cryptocurrency that you want to withdraw and the address of the wallet that you want to withdraw it to. The transaction will take a few minutes to complete.
   • Once the transaction is complete, your cryptocurrency will have been withdrawn to the new wallet. You can now use your cryptocurrency as you normally would.

Conclusion

Tornado Cash is a privacy-focused cryptocurrency mixing service that allows users to send and receive cryptocurrency anonymously. The service is easy to use and can be used with a variety of cryptocurrencies. However, it is important to note that Tornado Cash has been sanctioned by the U.S. Treasury Department's Office of Foreign Assets Control (OFAC). This means that U.S. citizens and businesses are prohibited from using the service.