The cryptocurrency mixing tool Tornado.Cash made nearly $ 5 billion in transactions, while the Cashfusion mixing app also grossed around $ 3 billion as we can see on our cryptocurrency news today.
While blockchain surveillance has increased in the past few days, crypto mixers have seen a sharp surge in usage by those who do not want their financial transactions to be tracked. Because of this, the Tornado.Cash crypto-mixing tool helped make ETH and BTC less traceable to crypto owners, and recorded transactions of nearly $ 5 billion.
The privacy of digital currencies is a big deal for many people because for some it is not and they have no problem with the transaction on the transparent ledger monitored by blockchain monitoring companies. The privacy lovers, on the other hand, use many methods such as using a VPN, the Tor browser and using these token mixers. At the end of 2021, the two mixers Cashfusions and Tornado.cash were processing almost $ 8 billion in digital assets. Tornado.Cash is an ETH-based mixing tool that recorded approximately 2,344,835 ethers valued at more than $ 4.8 billion. The application is hugely popular and was even reviewed by BTC developer Gavin Andresen in 2020 of the Layer2 Ethereum platform Arbitrum One and of the $ 4.87 billion deposited, Tornado.Cash users paid $ 7.2 million in fees says Dune Analytics.
Statistics shows that there were 12,240 individual depositors and about 36,382 unique withdrawal addresses and the $ 4.8 billion deposits around 20,233 and about $ 3.8 billion in Bitcoin Cash merged since 2019. Another mixed project in which some Billions of coins have been shuffled is CashFusion, which is used by the Bitcoin Cash community.
The mixed application without custody became popular around 2019. Cashfusion offers a lot of obfuscation to transactions and the project was reviewed by data analyst James Waugh in early 2020 to make a connection between them possible. Since 2019, more than 7,293,680 BTC cash valued at $ 3.29 billion has been processed. These mixing apps are popular and used regularly. BCH fans take part in so-called “Fusion Fridays” in order to attract a larger audience for their apps. Since Tornado.cash supports Arbitrum One, the fees are lower.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and adhering to strict editorial guidelines. If you are interested in offering your expertise or contributing to our news website, please feel free to contact us at [email protected]