Jack Recider

But with cryptocurrency, you can't hide very well by just transferring the money into a fresh wallet. There's a big, glaring transfer displayed publicly for anyone to see. Moving it into a new wallet doesn't do anything to hide your tracks. They somehow needed to clean this money so it can't be linked back to the money stolen from Axie Infinity.

But with cryptocurrency, you can't hide very well by just transferring the money into a fresh wallet. There's a big, glaring transfer displayed publicly for anyone to see. Moving it into a new wallet doesn't do anything to hide your tracks. They somehow needed to clean this money so it can't be linked back to the money stolen from Axie Infinity.

tornado cash i've used tornado cash before let me tell you why okay so i was going for a coffee a while back in my town and i noticed they accepted ethereum cryptocurrency and i was like hot diggity people have been donating ethereum to my podcast i'm gonna use it to buy some coffee So I started to get it going, but I thought, wait a minute, hold on, no way, this is a bad idea.

tornado cash i've used tornado cash before let me tell you why okay so i was going for a coffee a while back in my town and i noticed they accepted ethereum cryptocurrency and i was like hot diggity people have been donating ethereum to my podcast i'm gonna use it to buy some coffee So I started to get it going, but I thought, wait a minute, hold on, no way, this is a bad idea.

My donation wallet is public, so anyone can see where I spend my money. And if they see I spent it on coffee in my town, that might expose where I live. I go to extreme lengths to keep my private life and public life separate. So I need a way to move this money into a personal wallet so I can spend it without people able to see where I'm spending it. So what are my options?

My donation wallet is public, so anyone can see where I spend my money. And if they see I spent it on coffee in my town, that might expose where I live. I go to extreme lengths to keep my private life and public life separate. So I need a way to move this money into a personal wallet so I can spend it without people able to see where I'm spending it. So what are my options?

I could send it to an exchange and then send it to a fresh wallet. But to use an exchange, I have to give them my personal details like my driver's license and stuff, which seems a bit much just to buy a cup of coffee. Isn't there a simpler system, one that's more privacy focused? Yeah, Tornado Cash. Tornado Cash is great. You send your money to it.

I could send it to an exchange and then send it to a fresh wallet. But to use an exchange, I have to give them my personal details like my driver's license and stuff, which seems a bit much just to buy a cup of coffee. Isn't there a simpler system, one that's more privacy focused? Yeah, Tornado Cash. Tornado Cash is great. You send your money to it.

It gets thrown in a pool with a bunch of other people's money, and you get sort of a claim ticket. And at any moment, you can use your claim ticket to get your money back out into a fresh wallet. Essentially, this allows you to transfer your money into a new wallet, but it removes the tracks of where it came from. What's great about it is that it's all automatic.

It gets thrown in a pool with a bunch of other people's money, and you get sort of a claim ticket. And at any moment, you can use your claim ticket to get your money back out into a fresh wallet. Essentially, this allows you to transfer your money into a new wallet, but it removes the tracks of where it came from. What's great about it is that it's all automatic.

I was telling you about smart contracts before, where you can add code to the Ethereum blockchain. Money is programmable now. So I can see the Tornado Cash code, verify it looks okay, and then get my wallet to interact with it directly, giving it my money and getting that claim ticket back.

I was telling you about smart contracts before, where you can add code to the Ethereum blockchain. Money is programmable now. So I can see the Tornado Cash code, verify it looks okay, and then get my wallet to interact with it directly, giving it my money and getting that claim ticket back.

And the way Tornado Cash worked is that they purposely built it so the creators themselves never took control of your money. The only person who would ever have control of your money is you. The smart contract is programmed to handle the money, but the creators built it so that they can't even control the smart contract anymore.

And the way Tornado Cash worked is that they purposely built it so the creators themselves never took control of your money. The only person who would ever have control of your money is you. The smart contract is programmed to handle the money, but the creators built it so that they can't even control the smart contract anymore.

They literally coded all zeros in for who can control it, which means nobody can.

They literally coded all zeros in for who can control it, which means nobody can.

Okay, so you might be thinking, hold on, this is just a Bitcoin tumbler, a mixer for money laundering. And there have been lots of them in the past. And weren't they all illegal anyway? Yeah, that's the thing. This one was different, very different. The ones in the past were typically custodial mixers.

Okay, so you might be thinking, hold on, this is just a Bitcoin tumbler, a mixer for money laundering. And there have been lots of them in the past. And weren't they all illegal anyway? Yeah, that's the thing. This one was different, very different. The ones in the past were typically custodial mixers.

meaning someone is actually in possession of your money if someone put a gun to their head they could hand over all your money these kind of mixers are illegal because the person holding the money should know whose money they're holding like if i give you something illegal to hold you could be in just as much trouble for holding it as me

meaning someone is actually in possession of your money if someone put a gun to their head they could hand over all your money these kind of mixers are illegal because the person holding the money should know whose money they're holding like if i give you something illegal to hold you could be in just as much trouble for holding it as me