Decentralization can be slowed down but not stopped. The latest Tornado Cash saga has proven that statement, as users were still accessing and using it despite the sanctions.
In its latest report, Chainalsis’ research indicated that illicit use of Tornado Cash was primarily related to crypto hacks and scams, with a rough average of 34% of all inflows being attributed to having originated from such.
While the sanctions could not stop the mixer entirely, it did effectively work to spook people away from using that platform, with total inflows dropping by 68% in the following month. Specific figures are not given, however the chart shows that daily inflows were at times hitting nearly $25 million per day in the 30 days prior to the sanctions, and then subsequently dropped under $5 million per day in the aftermath.“Those incentives appear to have been powerful, as its inflows fell 68% in the 30 days following its designation.
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