Reportedly, THORChain, a cross-chain exchange agreement, has made possible almost $3 billion worth of dealings and produced $3 million in expenses because of cash washing operations through the Bybit exchange.
According to on-chain expert Ember, the North Korean hacking group Lazarus Group directed taken Ethereum (ETH) through THORChain, transforming it into Bitcoin (BTC). This action led to $2.91 billion in trading quantity and $3 million in costs for the agreement.
Ice Open Network and ChainGPT Reveal Innovative Web3-AI Alliance
THORChain’s everyday trading quantity balanced around $80 million before the prohibited action started. However, it rose to $580 million daily from February 22, reaching a total of $2.91 billion in just 5 days. THORChain processed a record $859.61 million worth of deals on February 26 alone, followed by an additional $210 million on February 27, exceeding $1 billion in 48 hours, according to information from THORChain Explorer.
Transforming taken funds into Bitcoin is a typical technique utilized by Lazarus Group to hide the beginning of prohibited electronic properties.
A core designer at THORChain and engineer at Nine Realms, Pluto, recognized that prohibited funds had actually gone through the agreement. He included that the group is proactively working together with pocketbook and combination partners to execute screening solutions to resolve the concern.
