Tornado Cash Activities After Sanctions

August 11, 2022, 7:18AM EDT

• 5 min read

Quick Take

Less than 30% of Tornado Cash deposit originates from stolen funds and sanctioned entities, while a significant portion possibly comes from legitimate sources, according to Chainalysis.
The number of unique users has dropped significantly after the sanction, whereas previous depositors rushed to withdraw their funds from the protocol.
Some privacy advocates sent ether to crypto notables via the sanctioned protocol without their consent, as cryptocurrency wallets cannot reject incoming payments.

Join The Block Research for exclusive research like this

Gain access to this research piece and 100s of others, including ecosystem maps, company profiles, and topics spanning DeFi, CBDCs, banking and markets. Together with additional services, we help organizations understand what’s happening in the rapidly developing digital asset ecosystem.

Already a Research Member? Login Here

Source: https://www.theblockresearch.com/tornado-cash-activities-after-sanctions-162960?utm_source=rss&utm_medium=rss