August 11, 2022, 7:18AM EDT
• 5 min read

Tornado Cash Activities After Sanctions

Quick Take

  • Less than 30% of Tornado Cash deposit originates from stolen funds and sanctioned entities, while a significant portion possibly comes from legitimate sources, according to Chainalysis.
  • The number of unique users has dropped significantly after the sanction, whereas previous depositors rushed to withdraw their funds from the protocol. 
  • Some privacy advocates sent ether to crypto notables via the sanctioned protocol without their consent, as cryptocurrency wallets cannot reject incoming payments.

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