Tornado Cash Sees 90% Drop in Usage After U.S. Government Sanctions

Tornado Cash, a cryptocurrency mixer, experienced a dramatic 90% fall in usage after it was sanctioned by the U.S. government last year, according to a recent study by TRM Labs. This service, operating on multiple networks including Ethereum and BNB Chain, provided users with a platform to swap tokens without revealing their digital wallet addresses. In August 2022, the U.S. Treasury Departments Office of Foreign Asset Control (OFAC) singled out Tornado Cash, claiming it was the preferred method for ill-intentioned parties to cleanse money. Though the platform wasnt inherently malevolent,...

source: https://tokenpost.com/Crypto-Mixer-Tornado-Cash-Sees-Sharp-Decline-After-US-Sanctions-Report-Reveals-10806

Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.

Published by: Book Club