Users are Withdrawing Funds from Tornado Cash
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Aug. 12, 2022

The assets of cryptocurrency mixing service Tornado Cash have recorded a 15% drop after the OFAC added the platform to its sanctions list, The Block has reported.

According to data provided by the publication, users have stopped depositing funds and have accelerated the return of previously deposited funds.

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Since the announcement of the restrictions, the volume of income has amounted to $6 million, which is 78.5% less than during the same period of the previous week.

During this time, users withdrew $62 million from the protocol, which is 15% of the total amount of balances in their addresses. In the first three hours, the outflow amounted to $14.7 million.

Yesterday it became known the decentralized derivatives exchange dYdX blocked Tornado Cash user accounts.

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