Ethereum Privacy Tools Under Scrutiny as Tornado Cash Trial Highlights Lack of Victim Support
The ongoing criminal trial of Tornado Cash developer Roman Storm has revealed troubling gaps in support for victims of cryptocurrency scams. Testimony on the second day of proceedings showed that users who lost funds through the Ethereum-based privacy tool received little to no assistance from its developers. Key cases include a Georgia woman who lost $250,000 to a pig butchering scam and cryptocurrency exchange BitMart, which was unable to recover $200 million in stolen funds laundered through Tornado Cash. These developments come as the Ethereum ecosystem faces increasing regulatory scrutiny around privacy tools and their potential misuse for money laundering. The trial highlights the growing tension between cryptocurrency privacy advocates and law enforcement agencies seeking to combat financial crimes in decentralized finance (DeFi). As the case continues, it may set important precedents for developer liability and the future of privacy-focused protocols in the Ethereum network.
Tornado Cash Developers Offered Little Help to Hack Victims, Trial Reveals
Victims of cryptocurrency hacks and scams who sought assistance from Tornado Cash received minimal support from the privacy tool's developers, according to testimony during the second day of Roman Storm's criminal money laundering trial. A Georgia woman lost $250,000 to a pig butchering scam, with funds laundered through Tornado Cash, while BitMart's legal team was told nothing could be done to recover $200 million stolen in a 2021 exploit due to the protocol's decentralized nature.
Sky Mavis CTO Andy Ho detailed the $625 million Ronin Bridge hack in 2022, later attributed to North Korea's Lazarus Group, which used Tornado Cash to launder stolen funds. Prosecutors highlighted these cases to demonstrate the platform's alleged role in facilitating illicit transactions without providing recourse for victims.
Ethereum Surpasses Johnson & Johnson in Global Asset Rankings Amid Price Rally
Ethereum has cemented its position as the world's 30th most valuable asset, overtaking healthcare conglomerate Johnson & Johnson with a $382 billion market capitalization. The milestone underscores crypto's accelerating mainstream adoption.
The second-largest cryptocurrency by market cap now trades at $3,147.99, boasting a 5.89% daily gain and $55.69 billion in 24-hour trading volume. This resurgence marks ETH's first breach of the $3,100 level since February 2024.
Network activity mirrors 2021 bull market peaks, with daily transactions approaching 1.5 million. DeFi's total value locked surged 33% last quarter, while staked ETH increased by 4% - signaling robust fundamental growth beneath the price action.
Trump-Backed World Liberty Ethereum Tokens Set for Public Trading
World Liberty Financial's WLFI token, previously restricted to accredited investors, is poised to enter the public market following a governance vote. The Ethereum-based DeFi platform, which promotes crypto borrowing and lending services, will now allow retail participation through exchange listings.
Governance tokens like WLFI enable holders to vote on protocol changes while maintaining tradeable value. The project's website emphasizes this MOVE as a pivotal step toward decentralized community ownership, though specific exchange partners remain undisclosed.
Market observers note the political dimension of the launch, given Donald Trump's endorsement. The timing coincides with growing institutional interest in politically-aligned crypto projects, though liquidity and regulatory scrutiny may pose challenges for the newly tradable asset.
Ethereum Price Surges 50% Amid Growing Network Activity and Bullish Sentiment
Ethereum's native token ETH has rallied 50% since June 22, breaking through key resistance levels to trade at $3,376.43—its highest valuation since January. The surge coincides with record network adoption, as tracked by Santiment data showing over 152 million active non-empty wallets, surpassing Bitcoin's user base.
Social media platforms are ablaze with speculation, echoing May 2024's bullish fervor. Traders across X, Reddit, and Telegram are circulating $4,000 price targets, fueled by ETH's 23% weekly gain and 10% daily uptick. The momentum signals a potential paradigm shift in crypto dominance debates, with Ethereum's smart contract utility challenging Bitcoin's store-of-value narrative.
Ethereum Surges Past $3,300 as Spot ETF Inflows Hit Record High
Ether rallied to $3,336, marking a 7% gain in 24 hours and a 20% weekly increase, as institutional demand for U.S. spot ETFs reached unprecedented levels. BlackRock's ETHA and Fidelity's FETH led $717 million in net inflows on July 16—the largest single-day accumulation since tracking began.
The cryptocurrency now trades just 31% below its all-time high of $4,878, with ETFs holding over 4% of circulating supply. Corporate treasuries from Bit Digital to SharpLink Gaming further fueled the uptrend, signaling broadening institutional adoption.
Ethereum Surges to $3,374 Amid Record ETF Inflows and zkEVM Breakthrough
Ethereum rallied past $3,300 this week, peaking at $3,422—a six-month high—as institutional demand and technological advancements fueled bullish momentum. Spot ethereum ETFs saw record inflows, with corporations like BTCS Inc. allocating $44.15 million to ETH as a treasury asset. The Ethereum Foundation's announcement of zkEVM integration into Layer 1 marked a pivotal step toward solving scalability challenges.
Despite regulatory headwinds and security concerns, technical indicators suggest sustained upward trajectory. The convergence of institutional adoption and protocol upgrades positions ETH for potential new highs, though market volatility persists.
