In the recent Ronin Bridge hack attributed to North Korea’s Lazarus Group, the hackers made extensive use of Tornado Cash to launder some of the stolen cryptoassets from the heist, which at the time of the theft totalled $540 million. Unlike simple P2P exchange platforms – which are basic websites enabling cryptoasset users to connect – decentralized exchanges (DEXs) built on Ethereum utilize smart contracts to enable users to undertake cryptoasset-to-cryptoasset exchanges in real time. To evade detection, illicit actors have routinely sought to make use of cryptoasset “mixers”. September 2020’s KuCoin hack case saw criminals launder millions of dollars worth of cryptoassets via DEXs.