📊 THORChain outage slowed money laundering after the hack #Binance
🏦 Chainalysis analysts reported that a technical shutdown of THORChain unintentionally made it harder to withdraw funds stolen in the $6.3 billion Binance hack. Swaps across ten blockchains were suspended on October 31 due to an error related to an Ethereum reorganization.
⚠️ Because of the outage, the protocol detected a shortage of 10 ETH and automatically halted operations. Researchers estimate that over two days, hackers withdrew about $242 million from the Tron network, of which $44 million passed through THORChain. Developers are preparing a fix, and swaps will resume after a security review of the network.
🏦 Chainalysis analysts reported that a technical shutdown of THORChain unintentionally made it harder to withdraw funds stolen in the $6.3 billion Binance hack. Swaps across ten blockchains were suspended on October 31 due to an error related to an Ethereum reorganization.
⚠️ Because of the outage, the protocol detected a shortage of 10 ETH and automatically halted operations. Researchers estimate that over two days, hackers withdrew about $242 million from the Tron network, of which $44 million passed through THORChain. Developers are preparing a fix, and swaps will resume after a security review of the network.
