{"id":21709,"date":"2025-03-04T10:39:22","date_gmt":"2025-03-04T08:39:22","guid":{"rendered":"https:\/\/forklog.com\/en\/thorchain-swap-volume-surpasses-4-6-billion-following-bybit-hack\/"},"modified":"2025-03-04T10:39:22","modified_gmt":"2025-03-04T08:39:22","slug":"thorchain-swap-volume-surpasses-4-6-billion-following-bybit-hack","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/thorchain-swap-volume-surpasses-4-6-billion-following-bybit-hack\/","title":{"rendered":"THORChain Swap Volume Surpasses $4.6 Billion Following Bybit Hack"},"content":{"rendered":"<p>The multi-chain protocol THORChain processed a record $4.66 billion in swaps over the past week, according to DeFi Llama. On March 2, the figure exceeded the $1 billion mark.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXcQPI0HOvu1wcYvyqg06-5bDphecSMCWBkki18kcUqu-XpzeYfpmDXAUR6kL0Xbg-LHDJmFCXGrLDttM3CZ2vZLs6qKTaJ__N97DnYBBhiT50xEMrnz6pBG2ikbBZgMyPKdxIPzjw?key=dmMT7_sJ6_c3sYx5GQvvEiiY\" alt=\"THORChain Swap Volume Surpasses $4.6 Billion Following Bybit Hack\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/defillama.com\/chain\/Thorchain?volume=true&#038;tvl=false&#038;groupBy=daily&#038;currency=USD\">DeFi Llama<\/a>.<\/figcaption><\/figure>\n<p>The surge in activity followed the <a href=\"https:\/\/forklog.com\/en\/news\/bybit-exchange-suffers-1-46-billion-loss-in-hack\">hack of the Bybit exchange<\/a>. Analysts report that the perpetrators used THORChain to exchange and launder funds.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cStarting with the Bybit Exploiter, funds were sent through an expanding network of wallets. With each \u2018hop\u2019 further from the main address, the number of intermediaries increased, and the transfers became smaller and smaller,\u201d states a report by Nansen, provided to <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/03\/04\/thorchain-sees-record-usd4-6b-volume-after-bybit-s-usd1-4b-hack\">CoinDesk<\/a>.<\/p>\n<\/blockquote>\n<p>Experts indicate that in the second phase, the perpetrators began using third-party platforms, including THORChain, Paraswap, Mantle, and DODO.<\/p>\n<p>Hackers completed the laundering of funds (499,000 ETH or $1.39 billion) in ten days, according to analysts at EmberCN.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"zh\" dir=\"ltr\">\u9ed1\u5ba2\u5df2\u7ecf\u628a\u4ece Bybit \u76d7\u53d6\u7684 49.9 \u4e07\u679a ETH ($13.9 \u4ebf) \u5168\u90e8\u6e05\u6d17\u5b8c\u4e86\uff0c\u6574\u4e2a\u8fc7\u7a0b\u5386\u65f6 10 \u5929\u3002<\/p>\n<p>ETH \u4ef7\u683c\u5728\u8fd9\u4e2a\u8fc7\u7a0b\u4e2d\u4e0b\u8dcc\u4e86 23% (\u4ece $2,780 \u8dcc\u5230\u73b0\u5728\u7684 $2,130)\u3002<\/p>\n<p>\u800c\u9ed1\u5ba2\u6d17\u94b1\u4f7f\u7528\u7684\u4e3b\u8981\u901a\u9053 THORChain \u4e5f\u56e0\u9ed1\u5ba2\u6d17\u94b1\u83b7\u5f97\u4e86 $59 \u4ebf\u7684\u4ea4\u6613\u91cf\u8ddf $550 \u4e07\u7684\u624b\u7eed\u8d39\u6536\u5165\u3002<\/p>\n<p>\u672c\u6587\u7531 <a href=\"https:\/\/twitter.com\/hashtag\/Bitget?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitget<\/a>\uff5c<a href=\"https:\/\/twitter.com\/Bitget_zh?ref_src=twsrc%5Etfw\">@Bitget_zh<\/a> \u8d5e\u52a9 <a href=\"https:\/\/t.co\/osoKNzFhkG\">https:\/\/t.co\/osoKNzFhkG<\/a> <a href=\"https:\/\/t.co\/QUWuMmV6zH\">pic.twitter.com\/QUWuMmV6zH<\/a><\/p>\n<p>\u2014 \u4f59\u70ec (@EmberCN) <a href=\"https:\/\/twitter.com\/EmberCN\/status\/1896728373340303440?ref_src=twsrc%5Etfw\">March 4, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Total activity on THORChain amounted to 5.9 billion transactions. This brought the network $5.5 million in fee revenue, experts calculated. During the process, the price of ETH fell by 23%, from $2780 to $2130.<\/p>\n<p>Back in February, the main developer of the THORChain protocol, known as Pluto, announced that he <a href=\"https:\/\/forklog.com\/en\/news\/thorchain-developer-departs-amid-bybit-asset-laundering-scandal\">would leave the project<\/a> following the cancellation of a vote regarding the blocking of hacker transactions.<\/p>\n<p>Earlier, the FBI <a href=\"https:\/\/forklog.com\/en\/news\/fbi-confirms-north-korean-involvement-in-bybit-hack\">confirmed<\/a> the involvement of the North Korean group TraderTraitor (also known as Lazarus Group, APT38, BlueNoroff, and Stardust Chollima) in the Bybit hack.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The multi-chain protocol THORChain processed a record $4.66 billion in swaps over the past week, according to DeFi Llama. On March 2, the figure exceeded the $1 billion mark. Data: DeFi Llama. The surge in activity followed the hack of the Bybit exchange. Analysts report that the perpetrators used THORChain to exchange and launder funds. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":21708,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1151,44,1750],"class_list":["post-21709","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bybit","tag-cybercrime","tag-thorchain"],"aioseo_notices":[],"amp_enabled":true,"views":"43","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21709","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=21709"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21709\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/21708"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=21709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=21709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=21709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}