Circle ‘blacklists’ all Tornado Cash ETH addresses effectively freezing USDC

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Circle’s USDC has “black­list­ed” all Ethereum address­es owned by Tor­na­do Cash list­ed in the US Trea­sury Department’s sanc­tion against the protocol.

A Twit­ter bot named USDC Black­list, which scrapes the blockchain for USDC block­lists, high­light­ed the issue as it tweet­ed mul­ti­ple times through Mon­day after the sanc­tion was issued.

The USDC “Black­list Pol­i­cy” states that when an address is “black­list­ed,” it can “no longer receive USDC and all of the USDC con­trolled by that address is blocked and can­not be trans­ferred on-chain.” Thus, any USDC cur­rent­ly held in a Tor­na­do Cash address is now frozen indefinitely.

The address­es tweet­ed out by USD­CBlack­list match those on the record released by the US Trea­sury. Fur­ther, Tor­na­do Cash co-founder Roman Semen­ov has also revealed that his Github account has also been sus­pend­ed fol­low­ing the sanctions.

In June, Circle’s CEO, Jere­my Allaire, con­firmed that a “black­list” func­tion exists with­in USDC to block address­es “when we are legal­ly required.”

The impact on Tor­na­do Cash’s abil­i­ty to oper­ate is as yet unknown. How­ev­er, upon review­ing the smart con­tracts there is rough­ly $81,000 USDC cur­rent­ly held by Tor­na­do Cash that is now poten­tial­ly frozen.

Cryp­toSlate has open com­mu­ni­ca­tion chan­nels with the Tor­na­do Cash team, but they have yet to reply to requests through­out the day. This arti­cle will be updat­ed with any fur­ther infor­ma­tion as it becomes available.



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