June 2025 — DeFi & On-Chain Insights
This week, crypto watchers witnessed two significant developments on-chain: an alarming $7.5 million laundering attempt via Tornado Cash tied to a recent DeFi exploit, and Avalanche’s native token AVAX holding firm at the crucial $15 support level—a price zone that could determine its short-term trajectory.
Together, these movements highlight the fragile balance between security and sentiment that defines today’s blockchain economy.
🕵️♂️ Tornado Cash Still a Laundering Hub Despite Sanctions
Despite being sanctioned by the U.S. Treasury’s OFAC, Tornado Cash continues to be a go-to tool for crypto criminals. Blockchain analysts from PeckShield and CertiK tracked approximately $7.5 million in ETH funneled through Tornado this week, linked to a recent stablecoin manipulation attack on the MIM (Magic Internet Money) protocol.
Key details:
Funds originated from a drained smart contract on the Fantom network
Mixed through Tornado Cash in 15 transactions, split into smaller 100 ETH chunks
Final withdrawals traced to three fresh wallets likely controlled by the same entity
Security experts are renewing calls for on-chain compliance tools and decentralized mixer alternatives that respect privacy without enabling criminal laundering.
“Tornado Cash is decentralized, but that doesn’t make it untouchable,” noted Simone Lee, a blockchain legal analyst. “Regulatory heat is inevitable.”
📊 Avalanche Holds $15: Bulls and Bears Battle
On a more positive note, Avalanche (AVAX) has managed to defend the $15 psychological support despite bearish market sentiment and a broad crypto pullback.
AVAX Technical Snapshot:
Support tested 4 times this month
RSI nearing oversold levels (~38)
Whales accumulating: Wallets holding >100k AVAX rose 3.5%
24h network activity up 12.7%, mostly from NFT marketplaces and GameFi dApps
Analysts say a decisive bounce from this level could signal a potential short-term rally toward $19, while a breakdown may drag it toward the $12.50 range.
“This is a high-conviction accumulation zone,” said Anya Rojas, technical strategist at Coin Bureau. “Smart money knows the value here.”
🔎 The Bigger Picture: Caution & Conviction
While the Tornado incident reaffirms that security vulnerabilities and anonymous laundering remain unsolved issues, Avalanche’s support resilience shows that fundamentally strong ecosystems continue to attract investor confidence—especially in bearish conditions.
