Crypto mixer Tornado Cash laundered over $550m in 2023 despite sanctions
Notorious crypto mixing service Tornado Cash laundered more than half a billion worth of crypto in 2023. Although the U.S. imposed sanctions against Tornado Cash in late 2022, the mixing service is still helping criminals launder hundreds of millions worth of cryptocurrencies. According to data compiled by SlowMist, in 2023 alone, Tornado Cash saw around 314,740 ETH in withdrawals, valuing at around 818.3 million at current prices (or $567.2 million based on 2023 rates). In 2023 alone, we saw 342,042 ETH deposited and ~314,740 ETH withdraw from Tornadocash, followed by users depositing 47,235 ETH into eXch and 25,508,148 ERC20 stablecoins into eXch. pic.twitter.com/Mto7ExNwIi — SlowMist (@SlowMist_Team) January 11, 2024 According to the analysts, North Korea-affiliated hackers Lazarus Group have shifted gears, becoming less visible as they focused on launder ing the “enormous cache of funds purloined in 2022.” Despite still a significant amount of funds being l...