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.
- Content Editor ( beincrypto.com )
- 2024-09-08
Tornado Cash Sees Resurgence With $50 Million Laundered This September