Crypto Blog
Tornado Cash, the “crypto-mixing” protocol, has experienced a resurgence in 2024 after a significant decline in activity following the U.S. government’s sanctions two years ago.
Recently, the service has seen heavy inflows from hackers involved in major exploits. According to Arkham Intelligence, the Poloniex exchange hacker, who stole over $100 million last year,$166 million and $47.7 million to the mixer this year. This is because Tornado Cash’s decentralized nature has made it challenging for U.S. authorities to regulate its use effectively.
“When looking at the growth of individual mixing services overall, we see that WasabiWallet, JoinMarket, and Tornado Cash have grown the most,” said the report.Tornado Cash after uncovering that the North Korean hacking group Lazarus had used the protocol to launder approximately $455 million in illegal funds.
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