🔄 THORChain: a protocol even hackers use
Most DEXs allow exchanging assets only within a single blockchain or through their wrapped versions.
But there’s a protocol that enables swapping native assets from different networks directly from your wallet — THORChain.
At the core is the RUNE token, which secures the network and is used in liquidity pools.
For example, swapping ETH for BNB happens via the route:
ETH → RUNE → BNB
In this case, users don’t need to independently execute two swaps — everything happens within a single swap through a compatible wallet.
After the Bitget hack, attackers withdrew over $350 million and used the protocol to exchange a significant portion of the stolen assets. This made further tracking and blocking more difficult.
Unlike many other services, THORChain did not block the addresses associated with the attack.
As a result, the protocol processed a large volume of transactions and generated substantial fee income. Against this backdrop, the APR on RUNE bonding at one point reached 250% per year.
⚖️ The interesting part here isn’t morality, but the very nature of decentralization.
THORChain clearly demonstrates how this principle works in practice.
Most DEXs allow exchanging assets only within a single blockchain or through their wrapped versions.
But there’s a protocol that enables swapping native assets from different networks directly from your wallet — THORChain.
At the core is the RUNE token, which secures the network and is used in liquidity pools.
For example, swapping ETH for BNB happens via the route:
ETH → RUNE → BNB
In this case, users don’t need to independently execute two swaps — everything happens within a single swap through a compatible wallet.
After the Bitget hack, attackers withdrew over $350 million and used the protocol to exchange a significant portion of the stolen assets. This made further tracking and blocking more difficult.
Unlike many other services, THORChain did not block the addresses associated with the attack.
As a result, the protocol processed a large volume of transactions and generated substantial fee income. Against this backdrop, the APR on RUNE bonding at one point reached 250% per year.
⚖️ The interesting part here isn’t morality, but the very nature of decentralization.
THORChain clearly demonstrates how this principle works in practice.
