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The Chief Scientist of Chainalysis stated that sanctions on cryptocurrency mixer Tornado Cash have left a void in the market and space for the creation of illegal mixers.
Jacon Illum believes that the cryptocurrency community will need a lot of time before understanding exactly how the blocking of the service has affected the industry. And although the mixer is still in use, what happened with Tornado Cash will leave its mark on this kind of crypto-services:
“People are becoming more and more cautious and do not know how to interact with Tornado Cash. According to our data, deposits in services that operate in a similar way are declining. This suggests that people are wondering how the mixer lockdown will affect them and their activities.”
But there are also optimistic project teams who see new opportunities in the situation. According to Chainalysis, small cryptocurrency mixer projects have begun to emerge that seek to close the gap.
According to Illum, there is a serious shortage of specialists in law enforcement and regulatory bodies who would understand the blockchain and related technologies. This also affects the decisions made by state bodies:
“As the popularity of blockchain grows, more people get access to such technologies, which also requires significant human resources: agents and law enforcement officers who would be fluent in the industry.”
Earlier, Chainalysis published a report from which it follows that since the beginning of the year, hackers have stolen assets worth $1.9 billion from various cryptocurrency projects.
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