On November 4, $RUNE rose 10.6% to $0.637. The driver wasn’t a new narrative, but North Korean hackers TraderTraitor using THORChain to swap stolen coins for $BTC . After THORChain paused on October 31, it resumed most cross-chain swaps, and the price recovered along with it.
SomaXBT estimates that, as of November 1, in the previous round of swaps initiated from TRON, the attackers exchanged about $48.3 million and received about $42.7 million, a loss of roughly 12%. That’s not a low cost. The value of this route isn’t that it’s cheap, but that BTC and $ETH have no issuer that can freeze them.
The FBI has explicitly called on THORChain node operators to block the relevant addresses. With a protocol being used as the main cash-out route, what comes next is whether the nodes comply, and when the over-the-counter, batch cash-outs mentioned by Elliptic will begin.
#THORChain #RUNE #On-chain tracking
SomaXBT estimates that, as of November 1, in the previous round of swaps initiated from TRON, the attackers exchanged about $48.3 million and received about $42.7 million, a loss of roughly 12%. That’s not a low cost. The value of this route isn’t that it’s cheap, but that BTC and $ETH have no issuer that can freeze them.
The FBI has explicitly called on THORChain node operators to block the relevant addresses. With a protocol being used as the main cash-out route, what comes next is whether the nodes comply, and when the over-the-counter, batch cash-outs mentioned by Elliptic will begin.
#THORChain #RUNE #On-chain tracking