Is tornado cash a turning point for crypto?

The Treasury’s decision to ban Tornado Cashcould prove to be a significant turning point for crypto in several ways. First, it shows how far the U.S. government is willing to go in its attempts to corral crypto as it creeps toward mainstream adoption.

What is tornado cash ETH?

Basically, Tornado Cash acts as a coin mixer. It leverages smart contracts to facilitate ETH deposits and multiple address withdrawals. Withdrawals are made from the Tornado protocol liquidity pools, making it difficult to know the sender's identity. What is Tornado Cash?

Is tornado cash a privacy coin?

As you might guess, Tornado Cash shares its lineage with privacy coins like Monero (XMR) and Zcash (ZEC). Specifically, these privacy coins are private because they employ a critical piece of cryptographic technology — zero-knowledge proof. Zero-knowledge proof (ZKP) is the most secure way imaginable by which authentication is done. Why?

What is tornado cash & how did it get hacked?

Tornado Cash, an Ethereum mixer, was used to launder more than $96 million in malicious funds derived from the June 2022 attack on Harmony’s Horizon bridge, and at least $7.8 million from a hack of cross-chain bridge Nomad, according to the U.S. Treasury Department.