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The Defiant 2025-02-28 21:50:53

Bybit Hackers Launder Funds Through Thorchain, Shattering Daily Volume Record

Bybit Hackers Launder Funds Through Thorchain, Shattering Daily Volume Record

Decentralized liquidity protocol Thorchain recorded its highest-ever daily trading volume on Feb. 26, generating $737.89 million in swap volume. However, crypto enthusiasts quickly pointed out that the volume resulted from the Bybit hackers laundering a portion of the $1.4 billion stolen from the exchange. In a Feb. 27 X post , a crypto user said that the surge in Thorchain’s daily trading volume was due to the Bybit hackers choosing the platform to launder their funds over Chainflip, which locked the hackers out, while Thorchain did not. Chainflip implemented several protocol updates to keep the Bybit hackers out of the platform. Thorchain’s inaction after the Bybit hack has caused a stir within its community. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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