Ah, the curious case of Bybit! In a twist worthy of a theatrical farce, the nefarious laundering of funds has bestowed upon THORChain a staggering $3 billion in trading volume and a delightful $3 million in fee revenue. Who knew crime could be so profitable? 😏
THORChain (RUNE), that audacious cross-chain swap protocol, found itself at the center of a whirlwind as the Bybit hacker, a member of the infamous North Korean Lazarus group, decided to play a game of digital hide-and-seek. With a flick of their virtual wrist, they transformed stolen Ethereum (ETH) into Bitcoin (BTC) using THORChain, racking up a jaw-dropping trading volume of $2.91 billion. Talk about a money laundering scheme that pays off! 💰
Before this grand spectacle began, THORChain was merely a humble player, averaging about $80 million in daily transactions. But lo and behold! From February 22 onward, the numbers skyrocketed to an average of $580 million per day. In just five days, they amassed a staggering $2.91 billion! On February 26, the platform processed a record-breaking $859.61 million in swaps, and the very next day, they added another $210 million. In a mere 48 hours, they crossed the billion-dollar mark! According to the illustrious THORChain Explorer, it was a sight to behold! 📈
Ah, the art of swapping stolen funds for Bitcoin! A classic move from the Lazarus playbook, designed to obscure the trail of their ill-gotten gains. Who needs a detective when you have a blockchain? 🕵️♂️
Enter Pluto, the core developer and Nine Realms engineer, who, with a sigh of resignation, acknowledged the unwelcome guests that had passed through their protocol. Fear not, dear reader! The team is diligently working with wallet and integration partners to implement screening services. After all, one must keep the riffraff at bay! 🛡️
“When we first started seeing illicit flows on THORChain, our team bridged the gap for wallets and integration partners, helping them integrate screening services like @elliptic. I am pleased to say that @SwapKitPowered and @RangoExchange offer this solution to their partners. Any…”
— Pluto (9R) (@Pluto9r) February 22, 2025
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2025-02-27 17:04