There Is A Big Escape From This Platform And Its Altcoin After The Statement Of The USA!

Tornado Cash (TORN)has seen a massive drop in deposits and an increase in withdrawals after being sanctioned by the U.S. Treasury.

Tornado Cash Platform Sees 78.5% Drop In Investment Rate In One Week After US Move

According to data from The Block Research, only $6 million has been invested in the protocol since the sanctions were imposed. This rate represents a 78.5% decrease compared to the previous week.

At the same time, users took action to withdraw their funds from the platform, which resulted in an overall increase in trading volume. Since the sanctions were announced, $62 million has been withdrawn from the protocol, and the amount of crypto held at their address has decreased by 15%. Of that, $14.7 million was withdrawn in just the first three hours.

The sanctions also had other effects on users of the protocol. Circle froze 75,000 USDC in addresses, cryptocurrency infrastructure services began to limit access to the protocol, and the decentralized exchange dYdX began to block accounts connected to the protocol.

After that, a user was seen protesting the sanctions by sending small amounts of Ethereum to wallets belonging to key crypto celebrities such as Jimmy Fallon, Logan Paul, Randi Zuckerberg, and Shaq.

Tornado Cash was a platform specifically used by North Korean hackers to launder stolen cryptocurrencies. The decentralized platform, to which the USA warned in the first place, had recently witnessed a great decrease in the price of its altcoin on the grounds that it could not meet the necessary conditions.

*Not investment advice.