Tornado Cash
TORNNon-custodial privacy mixer using zero-knowledge proofs
Performances
RD Popularity Index
RD Growth Index
| 1h | 24h | 7d | 30d | 60d | 90d |
|---|---|---|---|---|---|
| 2.16% | 3.51% | 4.90% | 14.59% | 28.41% | 22.51% |
Revenue & Burn
Protocol income
$207.21KBuyback funds
$207.21KBurn funds
--Buyback ratio
100.0%Protocol funds over time
Monthly amounts & ratios
| Period | Protocol income | Buyback funds | Burn funds | Buyback ratio |
|---|---|---|---|---|
| Oct 2026 | $207.21K | $207.21K | -- | 100.0% |
| Sep 2026 | $351.18K | $351.18K | -- | 100.0% |
| Aug 2026 | $328.36K | $328.36K | -- | 100.0% |
| Jul 2026 | $327.3K | $327.3K | -- | 100.0% |
| Jun 2026 | $235.37K | $235.37K | -- | 100.0% |
| May 2026 | $175.18K | $175.18K | -- | 100.0% |
Comparison
Tokenomics
Unlock Progress
Top Holders
| Address | Token | Quantity | Percentage | Value |
|---|---|---|---|---|
| Tornado.Cash: Governance (a1ce) |   TORN | 4,732,021.9 | 47.32% | $32.79M |
| Tornado.Cash: Governance Vault (2185) | TORN | 2,578,955.79 | 25.79% | $17.87M |
| 0x5b3f...8c29 | TORN | 465,920.49 | 4.66% | $3.22M |
Open Markets
| # | Exchange | Pair | Price | Volume (24h) | volume % |
|---|---|---|---|---|---|
| 1 | TORN/USDT | $8.99 | $106,171 | 175.08% |
Follow Updates
Follow Lists
People
About Tornado Cash
Tornado Cash is a decentralized privacy protocol running on Ethereum. It allows users to deposit ETH or ERC-20 tokens into a shared pool and withdraw them from a different address, using zero-knowledge proofs (ZK-SNARKs) to break the on-chain link between deposit and withdrawal addresses. Its core business is providing transaction privacy for public blockchains.
Its core value proposition is 'privacy on a public ledger'. Since all transactions on Ethereum are transparent, anyone can trace fund flows. Tornado Cash solves this by letting users prove they own a deposit without revealing which one, thereby severing the address link. This addresses the market pain point where financial privacy is nearly impossible on public chains.
In the past six months (Feb-Aug 2026), Tornado Cash has seen no major protocol updates. The project remains under OFAC sanctions from August 2022, which continues to limit its accessibility. In June 2026, a governance attack was attempted: a malicious proposal (No. 67) with unverified code aimed to replace the protocol's admin address to steal approximately $23 million in TORN from the governance contract. The community detected it and voted overwhelmingly against it (27,163 TORN opposed, 0 in favor), but the proposal failed to reach the 100,000 TORN quorum. This was the second such attack, following one in May 2023. Additionally, in March 2025, the project's domain tornado.cash expired due to sanctions preventing renewal, and was briefly hijacked by a phishing site that stole over 1,000 ETH from users. These events highlight ongoing security and operational challenges stemming from its regulatory status.
Tornado Cash, launched in 2019, is a decentralized privacy protocol on Ethereum using ZK-SNARKs to enable anonymous transactions. Its native token TORN was introduced in January 2021, with an airdrop and governance model. In August 2022, the U.S. OFAC sanctioned Tornado Cash, banning American entities from interacting with it, leading to a sharp decline in deposits and the arrest of developer Alexey Pertsev in the Netherlands. In 2023, co-founder Roman Storm was indicted on charges including money laundering and sanctions violations. In August 2025, a jury found Storm guilty of operating an unlicensed money-transmitting business, while deadlocking on other counts. In March 2026, prosecutors sought a retrial for the unresolved charges, scheduled for October 2026, later postponed to April 2027. Throughout, Tornado Cash has been repeatedly used by hackers to launder stolen funds, including incidents involving Kyber, Venus, and Infini protocols, highlighting persistent security challenges. These events underscore the ongoing tension between privacy and regulation in decentralized finance.
Bullish: On July 23, 2026, Tornado Cash processed 968 deposits in a day, a yearly high, showing demand recovery after sanctions were lifted; in 2026 it took over 20% of crypto mixer volume, with weekly inflows of $10M-$80M.
Bearish: On June 25, 2026, a governance attack saw a malicious proposal try to steal ~$23M in TORN; it was rejected but exposed governance flaws. Developer Roman Storm's retrial on money laundering charges is expected in October. In July, the Ostium exploiter laundered ~$23.75M USDC via the protocol, intensifying regulatory pressure.
Roman Semenov (Co-founder): Software engineer, early Ethereum developer. Contributed to Tornado Cash's core smart contracts and zero-knowledge proof systems. Previously worked on blockchain infrastructure projects. Active in cryptographic research and open-source development.
Alexey Pertsev (Co-founder): Full-stack developer and security researcher. Focused on Tornado Cash's frontend, relayer network, and user experience. Led the project's technical roadmap in early stages. Later convicted in the Netherlands on money laundering charges related to the protocol.
Roman Storm (Co-founder): Security engineer and entrepreneur. Co-founded Tornado Cash in 2019, overseeing protocol architecture and business development. Previously worked at POA Network as CTO and at Amazon. Charged by U.S. authorities in 2023 for alleged sanctions violations and money laundering.