In the first half of 2024, Tornado Cash, an Ethereum mixer, received over $1.9 billion in deposits. However, activity slowed in July, with only $65.1 million in deposits, according to Flipside data. Tornado Cash's TVL metric shows growth, starting the year with under 160,000 ETH and currently at nearly 168,600 ETH, translating to a value increase from $374.4 million to $572.82 million, considering asset value growth. Despite its intended use for anonymizing transactions, it has been associated with major hacks, leading to U.S. Treasury sanctions and ongoing legal issues against its devs.

Source: Decrypt