75% of stolen Ethereum-based cryptocurrencies were laundered through Tornado Cash cryptocurrency mixer

According to a report by SlowMist analysts, fraudsters laundered 75% of stolen Ethereum-based cryptocurrencies through the Tornado Cash cryptocurrency mixer, which was recently sanctioned by the US.

As it became known, the US Treasury Department has accused cryptocurrency mixer Tornado Cash of laundering stolen cryptocurrency, and, according to SlowMist, not without reason. The mixer was used to launder 74.7% of the total amount of stolen Ethereum-based digital assets — 300,160 ETH.

Some of the fraudsters are North Korean hackers from the Lazarus Group, known for cyberattacks on inter-chain bridges, and their illegal earnings are estimated at $ 2 billion. The hackers were involved in the attack on the Harmony blockchain’s Horizon Bridge and the theft of $ 625 million from the Axie Infinity game, and laundered the money through Tornado Cash.

As a reminder, on August 8, the US imposed sanctions against Tornado Cash — the US Treasury Department banned American citizens and businesses from using the platform’s services. A few days ago, law enforcement agencies detained the alleged developer of Tornado Cash in Amsterdam and immediately held a court hearing. The developer of the mixer is suspected of laundering stolen cryptocurrencies and collaborating with criminals.