The crypto mixing service Tornado Cash has been implicated in the laundering of over $552 million in stolen cryptocurrency in 2024. A report from Global Ledger reveals that more than 60% of ETH deposits to Tornado Cash originated from high-risk sources, including accounts connected to major crypto hacks. Notably, the service processed a total of 457,768 ETH, valued at around $1.64 billion, during this period. The WazirX hack contributed 61,698 ETH, the largest amount, while funds from the Heco Bridge hack came second. Tornado Cash was previously sanctioned by the US Treasury in 2022, but a recent court ruling challenged this decision, which could have implications for global efforts to combat financial crime in the crypto space.



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