• Tornado.cash and Cashfusion, two cryptocurrency mixing tools, conceal more than $8 billion in transactions

  • While blockchain surveillance has grown significantly in recent years, bitcoin mixers have seen significant use by those who do not want their financial activities traced. Meanwhile, two mixing apps, Tornado.cash and Cashfusion, have assisted cryptocurrency users in making their ethereum and bitcoin cash less traceable. The two applications recorded over $8 billion in crypto transactions that were purposefully disguised.

    Tornado.cashecentralized storage and DappRadar’s “0 percent dapp store tax” policy processed over $4.8 billion in Ethereum.

    Many people are concerned about the privacy of digital currencies. Some people believe it is not, and they have no problem dealing on transparent ledgers monitored by blockchain surveillance businesses. Privacy supporters, on the other hand, employ a variety of techniques such as using a VPN, the Tor browser, and accessing token mixers. As the year 2021 draws to a close, the two crypto asset mixing apps Tornado.cash and Cashfusion have handled more than $8 billion in digital assets.

    Tornado.cash is an ethereum (ETH) mixing mechanism that has received deposits totaling more than $4.8 billion. The software is incredibly popular, and it was even reviewed in 2020 by former Bitcoin engineer Gavin Andresen. Tornado.cash has also recently stated that it is in the process of deploying on the Ethereum L2 (layer 2) platform Arbitrum One. According to Dune Analytics, Tornado.cash users paid $7.2 million in network costs out of the $4.87 billion deposited.

    According to statistics, there have been 12,240 unique depositors and 36,382 distinct withdrawal addresses. The $4.8 billion in deposits were spread among 98,593 distinct accounts from 12,240 addresses. The proportion of withdrawals made using a relayer is approximately 70,800, whereas standard wallet withdrawals are approximately 20,233.

    Since November 2019, more than $3.8 billion of Bitcoin Cash has been fused.

    The Cashfusion project, which is backed by the bitcoin cash (BCH) community, is another mixing effort that has seen a few billion dollars in currencies mixed. Since November 28, 2019, the non-custodial mixing application included in the Electron Cash wallet has been a popular anonymity tool. Cashfusion provides significant transaction obfuscation, and the project was assessed in January 2020 by data analyst James Waugh.

    Waugh claimed at the time that he searched through thousands of transaction inputs and outputs and determined that “no tangible link” could be established between them. As of today, and since November 2019, 7,293,680 bitcoin cash transactions totaling $3.28 billion have been completed. To date, there have been 6,931,976 inputs and 7,102,213 outputs, and BCH fees are minuscule in comparison to Ethereum’s network fees, which are 169 satoshis for each BCH merged.

    Both of these mixing applications are popular and widely used today. BCH fans participate in “Fusion Fridays” on Fridays in order to gather a larger population merging their coins together. Tornado.cash’s support for Arbitrum One means that costs will be substantially lower than the typical onchain ETH rate. In addition to mixing applications for ethereum (ETH) and bitcoin cash (BCH), the non-custodial wallets Wasabi wallet and Samourai wallet provide bitcoin mixing functionalities (BTC).

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