Tornado Cash receives 75% of funds laundered on Ethereum, new research reveals
Considering the magnitude of funds changing hands in the cryptocurrency market every day, cybercrime and money laundering are abundant, with one of the most infamous such incidents involving the crypto mixing service Tornado Cash (TORN). As it happens, Tornado Cash has found itself in the midst of a scandal implicating it in the attacks on Ethereum (ETH) blockchain bridges.
To make things worse for the mixer, new data has come to light that shows that Tornado Cash has so far received 74.7% of the total funds laundered on the Ethereum network, or up to 300,160 ETH, according to the 2022 Mid-Year Blockchain Security and AML Analysis Report by blockchain security firm SlowMist. In addition, the research has also discovered that Tornado Cash accounts for the largest chunk of the initial funding for money laundering incidents on the Ethereum and Bitcoin (BTC) networks.
Source
@CryptoWorldAnalysis
