Tornado Cash Sees New Transactions Amid Concerns Over Fund Cover-up

Ethereum transactions linked to Tornado Cash have been raising eyebrows as new withdrawals totaling 4,920 ETH are reported by on-chain tracking platform Lookonchain, potentially indicating funds being moved away from the platform. This comes after significant investments by the HEX founder, Richard Heart, into the network earlier in 2024. SharpLink Gaming, a major Ethereum treasury company, is also seen to be offloading its holdings amid market pressures. The moves raise concerns about potential fund cover-up strategies used through complex wallet transfers and layering techniques.