In 2023, the cryptocurrency mixer Tornado Cash was used for money laundering totaling over $800 million. This amount is approximately equivalent to 314,740 Ethereum (ETH) at the current exchange rate. Analytical company SlowMist identified Tornado Cash as one of the primary tools for money laundering in that year, along with the activities of the Lazarus hacking group from North Korea.

The United States imposed sanctions on Tornado Cash back in 2022 after it was discovered that around $7 billion had been laundered through this service since 2019. The imposition of sanctions led to an almost 85% reduction in the total transaction volume through the mixer, according to TRM Labs' report.

In April 2023, a group of six individuals with the support of the cryptocurrency exchange Coinbase filed a lawsuit with the U.S. Treasury Department, demanding the easing of sanctions against Tornado Cash. However, in August, the court rejected this motion.

The Lazarus hacking group, supported by the North Korean government, shifted its main focus in 2023 to money laundering large sums stolen in the previous year. Among the significant hacks that occurred last year were breaches of Atomic Wallet, Coinspaid, Alphapo, Stake.com, and CoinEx, resulting in approximately $308 million being stolen.

Overall, in 2023, the crypto industry lost over $1.7 billion, which is significantly less compared to the $4 billion stolen by hackers in the previous year.