Privacy Cash pauses deposits after $1.2m in Binance-linked inflows

Privacy Cash has temporarily paused deposits following the Binance hack, saying it will strengthen wallet screening after investigators traced about $1.2 million in theft-linked funds into its privacy pools. Summary Deposits are temporarily paused, while Privacy Cash says withdrawals will remain available. Elliptic traced about $1.2 million in theft-linked ETH and SOL into the protocol. Privacy Cash’s documentation already describes wallet screening designed to reject addresses flagged as malicious. The team said screening improvements are underway but gave no date for deposits to resume. Privacy Cash announced the suspension in a Nov. 4 post, directly linking its decision to the recent Binance attack. The team said it wanted to prevent bad actors from using a product originally built to give ordinary users financial privacy. “When we started Privacy Cash, our goal was to make privacy tools for everyday people, not to enable crime,” the project wrote. During the pause, the team said it would continue strengthening its wallet-screening system. Existing users will still be able to withdraw, according to the announcement, which asked users to watch for further updates on when service ...