Why Everyone’s Talking About Tornado Cash

A deep dive into Tornado Cash and its use for money laundering purposes

Today we’ll be talking about Tornado Cash. It might as well be one of the reasons why crypto had a slight crash those days.

Btw, we have also explained the issue on why NFTs might end up worthless if you are interested on reading about it.

Here Is Why NFT Market Will Go Down to Zero Quicker Than You Think

First of all, let’s understand what Tornado Cash is. Tornado Cash is a smart contract which serves as a privacy tool, meaning that although blockchain is all about transparency, there might be times when you would want to transfer your ETH to different wallets in a way that no one can trace your or without your neighbor actually understanding how much is your net worth. There is no issue with that, you can’t really argue.

However, the issue with Tornado Cash is that it has been mostly used for money laundering services. At least that is what U.S. Department of Treasury thinks about it. Which is the reason why they sanctioned using Tornado Cash from U.S. persons.

Of course, this was not well accepted from the crypto enthusiasts and supporters. They think this is another try of centralizing crypto and not let it shine. Then we…