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Tornado Cash’s 100 ETH Pool TVL Drops 40% Amid Major Transfers

Tornado Cash’s 100 ETH pool faces a significant TVL drop as 120,600 ETH are transferred, with addresses linked to Richard Heart’s ProveX project, utilizing Zero-Knowledge Proofs for trustless trading.

ETH

Summary

Tornado Cash’s 100 ETH pool experienced a 40% decline in total value locked (TVL) following the transfer of 120,600 ETH. Onchain Lens identified associated addresses tied to developer Richard Heart, who is involved in the ProveX project. ProveX uses Zero-Knowledge Proofs to facilitate trustless peer-to-peer crypto trades.

Terms & Concepts
  • Total Value Locked (TVL): A metric representing the total amount of assets deposited in a decentralized finance protocol.
  • Zero-Knowledge Proofs: A cryptographic method that verifies data or transactions without revealing the underlying information.
  • Peer-to-Peer (P2P) Crypto Trading: Direct cryptocurrency exchange between users without intermediaries, typically facilitated by blockchain technology.