The post Tornado Cash Usage Drops 90% Following US Sanctions! appeared first on Coinpedia Fintech News
Tornado Cash reportedly dropped 90% following sanctions imposed by the U.S. Treasury Department in August 2022. Tornado Cash, which allows users to exchange tokens while masking wallet addresses on various networks, was blacklisted for allegedly being used by criminals to launder money. The service itself is not illegal, but its use by malicious actors to obfuscate the trail of stolen funds led to the sanctions. The drop in usage comes as the crypto industry continues to grapple with regulatory scrutiny and increasing pressure to curb illicit activities.
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