Reminder for people who are a part of the beta testing not to respond to any dms that look like they're from the team.
09 Aug 2022, 11:39
Reminder for people who are a part of the beta testing not to respond to any dms that look like they're from the team. We won't message you until you message first 👍
Same news in other sources
1BlockWalletBLANK #1995
09 Aug 2022, 18:12
Concerning the Tornado Cash situation.
TL;DR: BlockWallet has been using Tornado Cash as an underlying protocol for privacy pools which allow users to make private transactions. We continue to seek clarity with our legal team before we take further steps, but please consider risks before interacting with Tornado Cash.
_______________
Although public blockchains provide transparency and help create trust in crypto, they also present obvious privacy risks which translate to security risks. BlockWallet was born out of our desire to give you tools to protect your wealth and data. Our features like privacy proxies, phishing protection, flashbots protection, and finally, privacy pools is a testament to that.
Privacy pools let you send or receive crypto without revealing your wallet address, which serves as a practical and easy way to increase your privacy. We had integrated Tornado Cash as an underlying protocol for this feature because it was the most private and secure solution.
Yesterday we saw OFAC take unprecedented action against the protocol, effectively adding the protocol and associated addresses to their sanction list. This means that US citizens are barred from interacting with the protocol, but the implications go further. This paints a grim precedent as we've seen Tornado Cash repo on GitHub being removed, and node providers from the US being forced to restrict calls to Tornado Cash smart contracts. It is apparent that we need a more robust and decentralized infrastructure moving forward. We've always supported this as we've been exploring decentralized nodes and other solutions.
Ultimately, we don’t condone this decision, but we realize that any tool can be used with good and bad intentions. We haven't detected any malicious use within BlockWallet, and we do not support such activities.
We continue to seek clarity together with our legal team before we take any further steps. However, at this point it is uncertain what will happen when you interact with Tornado Cash, so please consider risks, especially if you are a US citizen.
Assets such as ETH are impossible to freeze, but we've already seen USDC issuer Circle Pay automatically freeze assets that went through the protocol. Even if some assets cannot be frozen, you might have issues depositing them into CEXes or some platforms. Ironically, this is why Tornado Cash, as well as BlockWallet, allow you to generate compliance reports to prove the source of funds.
We will continue exploring solutions to make Web3 safer for everyone, and keep you updated on the current situation as well as future developments.
BlockWallet is here to stay.
Concerning the Tornado Cash situation.
Concerning the Tornado Cash situation.
TL;DR: BlockWallet has been using Tornado Cash as an underlying protocol for privacy pools which allow users to make private transactions. We continue to seek clarity with our legal team before we take further steps, but please consider risks before interacting with Tornado Cash.
_______________
Although public blockchains provide transparency and help create trust in crypto, they also present obvious privacy risks which translate to security risks. BlockWallet was born out of our desire to give you tools to protect your wealth and data. Our features like privacy proxies, phishing protection, flashbots protection, and finally, privacy pools is a testament to that.
Privacy pools let you send or receive crypto without revealing your wallet address, which serves as a practical and easy way to increase your privacy. We had integrated Tornado Cash as an underlying protocol for this feature because it was the most private and secure solution.
Yesterday we saw OFAC take unprecedented action against the protocol, effectively adding the protocol and associated addresses to their sanction list. This means that US citizens are barred from interacting with the protocol, but the implications go further. This paints a grim precedent as we've seen Tornado Cash repo on GitHub being removed, and node providers from the US being forced to restrict calls to Tornado Cash smart contracts. It is apparent that we need a more robust and decentralized infrastructure moving forward. We've always supported this as we've been exploring decentralized nodes and other solutions.
Ultimately, we don’t condone this decision, but we realize that any tool can be used with good and bad intentions. We haven't detected any malicious use within BlockWallet, and we do not support such activities.
We continue to seek clarity together with our legal team before we take any further steps. However, at this point it is uncertain what will happen when you interact with Tornado Cash, so please consider risks, especially if you are a US citizen.
Assets such as ETH are impossible to freeze, but we've already seen USDC issuer Circle Pay automatically freeze assets that went through the protocol. Even if some assets cannot be frozen, you might have issues depositing them into CEXes or some platforms. Ironically, this is why Tornado Cash, as well as BlockWallet, allow you to generate compliance reports to prove the source of funds.
We will continue exploring solutions to make Web3 safer for everyone, and keep you updated on the current situation as well as future developments.
BlockWallet is here to stay.