ThorchainDeFi
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$RUNE — a decentralized cryptocurrency exchange that will change the game! 🔄🚀 It's time to be at the center of the future of finance! 💥📈
$RUNE
#ThorchainDeFi #Rune #Криптовалюта"
#CryptoNewss #инвестициидляначинающих
$RUNE
#ThorchainDeFi #Rune #Криптовалюта"
#CryptoNewss #инвестициидляначинающих
#ThorchainDeFi
$ETH THORChain has been called a money laundering protocol — a label no decentralized finance (DeFi) project wants unless it’s prepared to have regulators breathing down its neck.
Its supporters have fended off the criticism by championing decentralization, while its critics point to recent activities that showed some of the protocol’s centralized tendencies.
After exploiting Bybit for $1.4 billion, the North Korean state-backed hackers behind the attack, known as the Lazarus Group, flocked to THORChain, making it their top choice to convert stolen funds from Ether (ETH) to Bitcoin
BTC
$81,692
. Lazarus finished converting its Ether within just 10 days of the hack.
The controversy has triggered internal conflict, governance cracks and developer resignations, exposing a deeper issue and question: Can DeFi remain neutral when criminals exploit it at scale?
THORChain is not a mixer
THORChain is a decentralized swap protocol, so some say it’s unfair to call it a laundering machine, as the output is traceable. It’s not like a mixer, whose purpose is to conceal cryptocurrency fund trails — though the reasons for using mixers vary between users, with some simply wanting to preserve their privacy and others using them for illicit purposes.
Federico Paesano, investigations lead at Crystal Intelligence, argued in a LinkedIn post that it is misleading to state that the North Korean hackers “laundered” the Bybit hack proceeds.
“So far, there’s been no concealment, only conversion. The stolen ETH have been swapped for BTC using various providers, but every swap is fully traceable. This isn’t laundering; it’s just asset movement across blockchains.”
$ETH THORChain has been called a money laundering protocol — a label no decentralized finance (DeFi) project wants unless it’s prepared to have regulators breathing down its neck.
Its supporters have fended off the criticism by championing decentralization, while its critics point to recent activities that showed some of the protocol’s centralized tendencies.
After exploiting Bybit for $1.4 billion, the North Korean state-backed hackers behind the attack, known as the Lazarus Group, flocked to THORChain, making it their top choice to convert stolen funds from Ether (ETH) to Bitcoin
BTC
$81,692
. Lazarus finished converting its Ether within just 10 days of the hack.
The controversy has triggered internal conflict, governance cracks and developer resignations, exposing a deeper issue and question: Can DeFi remain neutral when criminals exploit it at scale?
THORChain is not a mixer
THORChain is a decentralized swap protocol, so some say it’s unfair to call it a laundering machine, as the output is traceable. It’s not like a mixer, whose purpose is to conceal cryptocurrency fund trails — though the reasons for using mixers vary between users, with some simply wanting to preserve their privacy and others using them for illicit purposes.
Federico Paesano, investigations lead at Crystal Intelligence, argued in a LinkedIn post that it is misleading to state that the North Korean hackers “laundered” the Bybit hack proceeds.
“So far, there’s been no concealment, only conversion. The stolen ETH have been swapped for BTC using various providers, but every swap is fully traceable. This isn’t laundering; it’s just asset movement across blockchains.”
$RUNE alert, might be going bankrupt so DYOR before you invest in this coin. Lending has been paused temporarily to safeguard liquidity of the network, due to 199 million dollars in debts
#ThorchainDeFi
#ThorchainDeFi
Binance News
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THORChain Faces Insolvency Amid Debt Challenges
According to PANews, THORChain is currently facing insolvency, as disclosed by X user TCB. The platform's liabilities include $97 million in loans (in ETH and BTC) and approximately $102 million in savings and synthetic assets, while available assets amount to only $107 million in external liquidity. TCB noted that THORChain fulfills its loan obligations by minting and selling RUNE tokens, a design that has exacerbated the issue due to its reflexive nature. After repaying $4 million in RUNE debt yesterday, the protocol incurred additional millions in RUNE liabilities. Validator nodes have paused network operations and are voting on a restructuring plan.THORChain is considering two options: maintaining the status quo, which would allow early exiters to extract about 5-7% of value and lead to a continued decline in RUNE, or declaring debt default to preserve valuable parts through bankruptcy restructuring, gradually repaying creditors without compromising the protocol's viability. TCB recommends the latter approach to protect liquidity providers' interests, maintain network value, and achieve long-term growth.Currently, THORChain's (RUNE) price is reported at $2.27, with a 24-hour decline of 29%.
#ThorchainDeFi
#Rune is at a 3 days chart support line .
Now eyes on effect of #Trump_Bull to pull up all this altcoin .
-Do research before investing
$RUNE
#Rune is at a 3 days chart support line .
Now eyes on effect of #Trump_Bull to pull up all this altcoin .
-Do research before investing
$RUNE
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