In 2022, Tornado Cash crypto mixing service was put under sanction by the U.S. Come the following year 2023, a significant number of over $550 million Cryptocurrency was processed through the platform.
According to data provided by SlowMist presents a portion of the $818.3 million total number of withdrawals that was transacted within the year 2023 which is last year by Tornado Cash.
Although there is a drop in the total volume of Crypto laundered through Tornado cash which is approximated to being around 85% that happened after the sanctions against this service, multiple criminals like North Korea’s hacking group Lazarus still have their eyes on Tornado cash.
It was also reported that OFAC also imposed sanctions against Tornado Cash in 2022, when it claimed, Tornado was used to launder more than $7 billion worth of digital currencies since 2019.
It is reported that the Lazarus group stole an approximate amount of around $455 million. In addition, $96 million of malicious cyber actors’ funds was obtained from the Harmony Bridge heist, and nothing less than $7.8 million was derived from the Nomad heist.
Relatively, back then in 2023, the US Treasury Department sanctioned yet another mixing service, Sinbad formerly known by the babe Blender.io as one of those boys that have been assisting to clean assets for North Korea Lazarus Group.
