@THORChain MADE MILLIONS FROM HACK-RELATED FLOWS. NOW THE INDUSTRY IS ASKING QUESTIONS.
THORChain is facing criticism after large amounts of funds allegedly linked to major crypto hacks were routed through the protocol.
• Nearly $10M in fees reportedly collected over 10 days from transactions involving funds stolen from Bybit.
• Around $1M in additional fees was reportedly generated from funds linked to the recent Bitget incident.
• On September 25, THORChain generated roughly $382K in daily revenue, with trading volume above $200M its highest daily revenue since April 25.
• SlowMist founder Yu Xian criticized THORChain for refusing requests to freeze attacker-linked addresses, citing its decentralized architecture.
The core debate isn't simply whether hackers used THORChain.
It's whether a decentralized protocol should take transaction fees from flows it knows or suspects are connected to stolen assets.
Critics argue that decentralization should not become a shield for passively profiting from hacker activity.
That is an industry criticism, not a legal finding.
Decentralization is cool.
Until the fee counter starts looking like a hacker's P&L.
THORChain is facing criticism after large amounts of funds allegedly linked to major crypto hacks were routed through the protocol.
• Nearly $10M in fees reportedly collected over 10 days from transactions involving funds stolen from Bybit.
• Around $1M in additional fees was reportedly generated from funds linked to the recent Bitget incident.
• On September 25, THORChain generated roughly $382K in daily revenue, with trading volume above $200M its highest daily revenue since April 25.
• SlowMist founder Yu Xian criticized THORChain for refusing requests to freeze attacker-linked addresses, citing its decentralized architecture.
The core debate isn't simply whether hackers used THORChain.
It's whether a decentralized protocol should take transaction fees from flows it knows or suspects are connected to stolen assets.
Critics argue that decentralization should not become a shield for passively profiting from hacker activity.
That is an industry criticism, not a legal finding.
Decentralization is cool.
Until the fee counter starts looking like a hacker's P&L.
