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THORSwap Pauses Trading After Suspicious Transactions Linked to FTX Hackers

THORSwap, a decentralized exchange based on ThorChain, has temporarily halted all trading activity after suspicious transactions were detected on the platform, including funds linked to the FTX hackers who stole $600 million from FTX. The decision to pause trading was made after consultation with advisors, legal counsel, and law enforcement. Following the halt, the hacker moved around $124 million worth of ETH to trust-minimized Bitcoin (tBTC) and cross-chained it to the Bitcoin network through the Threshold Network. Over 50% of ETH sent to THORSwap Router for BTC in the last four months has been linked to illicit funds, according to on-chain detective Tay.

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