The US Treasury Department has recently lifted the ban imposed on Twister Money. Explain that Twister Money is a cryptocurrency mixer, which was mainly used by North Korean Lazarus Hacking Workforce for money laundering. Using this mixer, hackers launched the stolen amount of millions of dollars. But now after the decision of the US Court, Twister Money The ban on has been lifted. Let us know what will be the effect of this and is it now safe to use Twister Money?
The reason for the ban on Twister Money
Twister Money was blocked by the US Treasury Department in August 2022. The reason was to use it for money laundering of cryptocurrency stolen by North Korea’s Lazarus Hacking Workforce more than $ 7 billion. Twister Money is a decentralized mixer, which works on the Etreum Blockchain. This gives platform users an opportunity to hide their transactions and untract money trails.
The US Treasury Department officials put Twister Money in their “specially designed National and Blocked Persons” (SDN) list, banning the service for American citizens and companies. But the US court has canceled the ban imposed on Twister Money. The court said that the Treasury Department has crossed its legal limits and now the ban on Twister Money has been lifted.
Is Twister Money safe now?
Even though the ban on Twister Money has been lifted, it is natural to raise questions on whether it is safe now. Twister Money is a service that provides anonymity and privacy, which can be used by cyber criminals for wrongdoings.
This mixer is used by many large hacking groups, including Lazarus Workforce. Lazarus Workforce named recently Bybit hack Also connected to, which is the largest hack in Crypto history. Please tell that Lazarus Workforce has made money laundering many times using Twister Money. In addition, Twister Money was also used during Nomad Heist and Cohesion Bridge Hack.
However, now that this service is now available again, the question arises whether its use is safe or not. If the Twister Money is properly controlled and kept under monitoring, it may be likely to use safely.
Conclusion
Despite lifting the ban on Twister Money, there are many questions on its safety and legal status. If cryptocurrency mixing services are properly controlled, it can be a safe and valid option for users. However, it is still necessary to ensure that it is not used by cyber criminals.
Ultimately, the restriction on Twister Money makes sense that rules and laws are constantly developing in the space of cryptocurrency. Governments and courts will have to monitor the operation of cryptocurrency platforms to prevent money laundering and cyber crimes.
