A possible explanation might be increasing regulatory attention to the crypto hacks and a number of high-profile enforcement cases, TRM Labs suggests. First of all, crypto exchanges are ramping up their KYC/AML policies, making it harder to cash out stolen coins. At the same time, the ETH mixing protocol Tornado Cash, which has been one the most popular money laundering tool for Ethereum so far, has been under the U.S. sanctions since August 2022, which automatically backlisted all Tornado-related funds for any regulated exchange.
Related posts
-
Why High Volatility in Crypto Assets Can Be a Good Thing for Investors
A. With respect to correlation, a volatile asset like crypto is actually very important to decrease... -
Crypto Market In Panic As Bitcoin Crash To $57,000 Sends 105,000 Traders To The Slaughter
The crypto market is in a state of panic with a market-wide crash that has shaken... -
UAE’s Zand Bank to Offer Crypto Services
Zand Bank, the UAE’s first digital bank, has entered...