Tornado Cash was used to launder 75% of the funds in the Ethereum network

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According to analytics company SlowMist, in 2022 the Tornado Cash mixer helped launder 74.7% of the total amount of criminal funds in the Ethereum network. At the same time, hackers do not use other mixers.

SlowMist analysts presented a large-scale report “On the security of blockchains and combating money laundering.” According to them, 300,160 ETH were passed through Tornado Cash in 2022, which is 74.7% of the total amount of criminal funds. Another 23.7% remain in the wallets of hackers, and only 1.5% were sent to the centralized exchanges Huobi, FTX and Crypto.com.

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The report also states that since the creation of the Tornado Cash mixing service in 2019, over $7 billion worth of digital assets have been laundered through this mixer. Members of the well-known North Korean hacker group Lazarus also used the service. That is why the addresses of Tornado Cash were included in the sanctions lists of the US Department of the Treasury.

Recall that last week Alexey Pertsev, the developer of Tornado Cash, was detained in the Netherlands. This led to the fact that the cryptocurrency community was divided – many industry participants oppose the arrest of Pertsev.

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Source: Cryptocurrency

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