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Three-quarters of all stolen ether end up with Tornado Cash

Tornado Cash, now banned by U.S. authorities, is the most popular way to launder crypto.

By Finst News
• 1 min read
Three-quarters of all stolen ether end up with Tornado Cash

Tornado Cash, now banned by U.S. authorities, is the most popular way to launder crypto.

According to the latest money-laundering report from SlowMist, in the second half of the year roughly 300,000 Ether — or 74.6% of the stolen funds on the Ethereum network — were transferred to Tornado Cash.

"From a number of incidents it has become clear that stolen funds on the ETH/BSC chain are typically sent to mixers like Tornado Cash, making this the favorite platform for scammers and hackers to get at their money."

Bitcoin itself has named ChipMixer the most-used money-laundering tool. 48.9% of stolen funds were transferred to the Bitcoin network, and SlowMist says ChipMixer could be next."

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