By the numbers, around $34 million in funds is affected, mostly Ethereum. They say in the press release that they prevented most of the unauthorized withdrawals and reimbursed the remainder, but it’s unclear how much they had to pay for reimbursements.

For context, this is the startup that has been using Matt Damon as it’s face.

Presumably they mostly stole ETH because tornado cash is the best mixer around to launder stolen funds

I'd love to read more about these money laundering operations like Tornado Cash. Are they just straight up 100% fraud companies? Do they have any pretense of a legitimate use case or does everyone just understand they're used for criminal activity? Are they regulated at all? I assume you have to trust your magic beans to them at some point; do the money launderers sometimes just steal them? What do they charge for their service?

tornado.cash is a legitimate service, that happens to be used by hackers that steal ethereum.

Check out their code on github.

I wonder what percentage of their total volume it is that “happens” to be used by hackers.

People who are not criminals deserve transaction privacy, as well.

What would be the point of "transaction privacy"?

There are plenty of examples of that: https://github.com/jlopp/physical-bitcoin-attacks