CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
CoinDesk 2025-03-04 05:40:57

THORChain Sees Record $4.6B Volume After Bybit's $1.4B Hack

THORChain, a decentralized protocol enabling users to swap cryptocurrencies across various blockchains, has seen what can be described as an unwanted windfall after the Bybit hack . The protocol processed $4.66 billion in swaps in the week ended March 2, the highest tally on record, according to data source DefiLlama . The tally exceeded the $1 billion mark on Sunday alone. The surge in activity follows the hack of the crypto exchange Bybit on Feb. 22, which saw the North Korean malicious entity walk away with $1.4 billion in ether. Per observers, the entity used THORChain to swap and launder funds, resulting in a record activity on the platform. "Starting from the initial Bybit Exploiter wallet, funds were sent across a further stretching net of wallets. With each 'hop' further from the main wallet, there was an increasing amount of intermediary wallets and the value transfers became smaller and smaller," blockchain analytics firm Nansen said in a report shared with CoinDesk. "From hop 2, the hacker started interacting with third-party entities to start swapping and laundering the funds. Entities with the most inflow volume from the hack include THORChain, Paraswap, Mantle, OK DEX and DODO," Nansen added. CoinDesk reached out to THORChain for a comment on the matter. Per onchain analyst EmberCN, hackers have laundered the entire ETH balance in ten days, generating record revenue for THORChain. "Hackers have laundered all 499,000 ETH ($1.39 billion) stolen from Bybit, a process that took 10 days. The ETH price has fallen by 23% in the process (from $2,780 to $2,130 today). THORChain, the main channel used by hackers to launder money, also earned $5.9 billion in transaction volume and $5.5 million in handling fees due to hackers' money laundering," EmberCN said on X.

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta