Tornado Cash deposits down 79% after sanctions were imposed

[Tornado Cash deposits dropped by 79% after being sanctioned] Jinse Finance reported that, according to The Block Research data, after Tornado Cash was sanctioned, deposits dropped sharply and withdrawals increased. Only $6 million has been deposited into the protocol since it was sanctioned. Compared to the same time in the previous week, this represented a drop of 78.5%.

At the same time, users rushed to withdraw their funds, leading to an increase in overall transaction volume. Since the sanctions were announced, $62 million has been withdrawn from the protocol, reducing the amount of cryptocurrency held in its addresses by 15%. Of this, $14.7 million was withdrawn in the first three hours alone.

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