A THORChain
$1.30
developer has stepped away from the project after an attempt to block transactions linked to North Korean hackers was reversed.
The decision followed a controversial vote involving THORChain validators. One validator, “TCB”, said they had voted—along with two others—to stop Ethereum
$2,250.78
trading on the network to prevent North Korean hackers from using it.
However, the decision was quickly reversed. THORSwap developer Oleg Petrov explained that three validator votes were needed to pause a chain, but four were required to undo it, which happened within minutes.
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The developer of the cross-chain swap protocol, known as “Pluto”, announced their exit in a February 27 post on X, saying, “Effectively immediately, I will no longer be contributing to THORChain”.
The Lazarus Group, a cybercrime organization tied to North Korea, has allegedly been using THORChain to move some of the $1.5 billion stolen from the exchange Bybit
$1.51B
on February 21. According to blockchain tracker Lookonchain, around $605 million in ETH has passed through the network.
THORChain’s founder, John-Paul Thorbjornsen, responded to the criticism, saying he had not been contacted by any authorities regarding the issue.
He also insisted that the platform itself does not facilitate money laundering, explaining that once the ETH is swapped for Bitcoin
$85,843.10
, it typically ends up on centralized exchanges where it is converted into traditional currency.
Recently, eXch, a cryptocurrency exchange, rejected claims that it helped launder money stolen in the Bybit hack. What did the exchange say? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
