CandleFocus Tornado Cash Sees Resurgence With $50 Million Laundered This September
2024-09-08
Author: Content Editor
Cryptocurrency mixing service Tornado Cash, despite being subject to US government sanctions, has seen a surge in usage by hackers to launder stolen funds, according to blockchain analytics firm SpotOnChain. In September, four hackers moved a total of 20,561 ETH (around $50 million) through Tornado Cash, with funds tied to major breaches involving Penpie, WazirX, Bo Shen, and LiFi. The usage of Tornado Cash as a preferred tool for laundering stolen assets indicates a resurgence in activity on the platform, despite attempts to curb its use. Crypto attorney Josh Lawler has also highlighted potential legal challenges to the sanctions against Tornado Cash, arguing that open-source software may not be classified as an "entity" subject to sanctions.
Related News
$NOT Tops Trading Charts with $585M, $APE Follows with $435M Watch Out: 22 Altcoins Have Massive Token Unlocks in the New Week – Here is the Day by Day, Hour by Hour List Ripple Targets FCA Approval, Eyes London IPO by 2025 EigenLayer Stakedrop 2: the second phase of the crypto airdrop of EIGEN kicks off September’s Key Events Which Will Review Struggling Crypto Market Crypto Markets Forming Huge Bear Trap Before Ascent Into Euphoria, According to Crypto Analyst Crypto Market Update: $BTC and $ETH See Major Liquidations, $BNX and $QNT Bounce Back ONDO Price In Correction Mode: How Long Will The Decline Last? Bitcoin ‘could very well catch fire’ as next generation of investors mature Profit-Taking Puts Toncoin (TON) Price Recovery Under Threat Attention: There Are Lots of Economic Developments and Altcoin Events in the New Week! Here's the Calendar to Follow Watch Out: Unusual Trading Volume Bursts in 5 Altcoins in South Korea Quant Attracting Whales: Revival Expected This Month? SunPump Starts Buyback & Burn of 161M SUN with Its Revenue Aethir: Fueling AI, Gaming, and Web3 with Decentralized Networks Can Ethereum provide a settlement layer for financial markets? | Opinion 3 Things Crypto Investors Need To Know About World Liberty Financial SUI Price Target $1 Breakout as AUSD Stablecoin Drives Network Activity Bitcoin range recovery could boost UNI, SUI, OP and HNT XRP Ready for “Huge Squeeze” Against Bitcoin, Top Trader Says Experts Reveal What They Claim Is The Biggest Threat To The Cryptocurrency Market Cardano Founder Reveals Game-Changing Plan for Unmatched Scalability Meme Coin Takeover Teams Face Legal Entanglement, Experts Say These 3 startups are using blockchain technology and crypto to innovate Bitcoin’s Hashrate Reaches 692 EH/s, Nearing 700 EH/s Milestone SHIB Prediction for September 8 Political Meme Coin Economy Shrinks by $420M as US Election Nears Telegram clicker game Catizen reaches 800K paying users in first 6 months 3 Token Unlocks to Watch Next Week BlackRock Remains Only Ethereum Buyer Among ETFs Ripple (XRP) Price Targets $1 Breakout as Monthly Chart Unveils Bullish Pattern Bitcoin analyst sees 'biggest bull cycle' with $45K now BTC price floor Dogecoin Lawsuit: Elon Musk Endorses DOGE Amid Legal Win, Price To Hit $0.1? Tether invests $100M in agriculture firm as stablecoin competition grows XRP to $1? XRP Price Forms Important Bull Pattern Will Polymarket Launch a Token? Why Some Traders Are Betting on an Airdrop Chris Burniske Drops 'Satoshi is Dead' Setup, but There's Bullish Punchline Treasury Secretary Janet Yellen Bets on US Economy Recovery, Will Bitcoin (BTC) Follow? Bitcoin (BTC) Price Drop to $45,000 Might Be Inevitable, Report Says Brace yourself: Bitcoin could crash to $31,000 soon Bitcoin Mining Could Help Japan Monetize $2.5 Billion in Wasted Green Energy — Report Stacks’ smart contracts reach record high ahead of Nakamoto upgrade 2 cryptocurrencies to reach $100 billion market cap in Q4 2024 This Week in Crypto Games: 'X Empire' Airdrop Details, 'Catizen' Token Date, and Sui Handheld Specs Cardano (ADA) Sees Sudden Surge in Trading Activity, What Happened? Bitcoin's Structure Looks Similar to 2019, Top Expert Claims DOGE Prediction for September 8 Sonic blockchain reaches record 720ms finality in testnet phase Charles Hoskinson: Cardano Will Always Be Bitcoin’s Biggest Threat Ripple Eyes Japan for RLUSD Launch Amid US Regulatory Challenges 'Stay strong': Here's what it takes for Bitcoin to reach $93,000 BinaryX Price Analysis: Bullish Now, Bearish Later? Tornado Cash Sees Resurgence With $50 Million Laundered This September Ethereum (ETH) Metric Makes Crucial Comeback: Details Magic Eden’s Trading Volume Surges to $60M Amid ME Token Anticipation Hamster Kombat will ban some players for this Prominent Economic Analyst Predicts a ‘Bloodbath’ in the Spot Crypto Market Ripple CTO Breaks Silence on RLUSD Stablecoin Rumors 1.9 Billion Shiba Inu in 24 Hours: SHIB Whales Making Comeback Arthur Hayes predicts Bitcoin rally after closing short position Ethereum's Buterin Entertains Community With Hilarious Horse Meme Elon Musk denies Tesla will pay xAI for AI technology partnership ‘We’ve Barely Started’ – Analyst Predicts Craziest Bull Market Yet, Unveils Timeline for Massive Crypto Surges Ethereum L1 Revenue Dips to Almost Zero After Dencun Upgrade Elon Musk’s Tweet Boosts Dogecoin (DOGE) Price: What’s Next Bitcoin Price Reclaims $54K Level, SUI Explodes 11% Daily (Weekend Watch) Friend.tech Team Renounces Control Over Smart Contracts Coinbase’s $BTC Spot Trading Volume Hits Back to Its Pre-Spot ETF Levels $BTC Halving Cycle Experiences a 12% Price Decline, Top Expected in Next Summer Hedera News: 7 Reasons HBAR Is Poised to Lead the Next Wave of Blockchain Innovation Polkastarter V4 Launches with Exciting New Features and User Experience If Bitcoin Price Falls to This Level, The Giant Whale Will Experience Massive Liquidation Behind Telegram’s crypto boom: How digital assets fuel platform’s growth despite legal woes Traders Alert! Tron (TRX) Set for 10% Price Surge, Here’s Why Starknet (STRK) Rises 23%, Offsets Crypto Market Fear And Doubt 20 Government Agencies in US, South Korea, and Japan Tackle North Korean Crypto Threats Analysts Name an Altcoin as the Market Falls: “Whales Are Focusing On This” Fed Report Explores How Crypto Price Changes Affect Ownership Ripple CEO Brad Garlinghouse Has Good And Bad News For XRP Community VanEck Chief Defends Ethereum Against Recent Attacks, What’s In for ETH Price? Trump crypto venture peeves allies: ‘Huge mistake… the juiciest DeFi target ever’ 5 Crypto Coins to Watch as Ripple’s CEO Unveils XRP Future Donald Trump Vs Kamala Harris Debate: How Will It Impact the Crypto Market? Ether Liquidity Plummets 40% On Exchanges After ETF Debut Helium (HNT) Network Expansion Fuels 13% Gains Despite Faltering Market