Thorchain, a decentralized protocol that allows users to change cryptocurrencies in several block chains, has seen what can be described as an unwanted unexpected gain after the Bybit trick.
The protocol prosecuted $ 4.66 billion in swaps in the week that ended on March 2, the highest registered account, according to the defillion data source. The count exceeded the $ 1 billion brand only on Sunday.
The increase in the activity follows the Exchange Crypto bybit hack on February 22, which saw the malicious entity of North Korea move away with $ 1.4 billion in ether. By observers, the entity used Thorchain to exchange and wash funds, which resulted in record activity on the platform.
“From the initial wallet of the Bybit explorator, the funds were sent through a new wallet stretching network. With each ‘hops’ further from the main wallet, there was a growing amount of intermediate wallets and value transfers became smaller and smaller,” said Blockchain Nansen’s analysis in a shared report with Colesk.
“From Hop 2, the hacker began to interact with third -party entities to start exchanging and washing funds. Entities with the largest amount of hack input volume include Thorchain, Paraswap, Mantle, Ok Dex and Dodo,” Nansen added.
Coendesk contacted Thorchain for a comment on the matter.
According to Ochain analyst, Embercn, computer pirates have washed the entire ETH balance in ten days, generating record income for Thorchain.
“The computer pirates have washed the 499,000 ETH ($ 1.39 billion) stolen from bybit, a process that took 10 days. The price of ETH has fallen by 23% in the process (from $ 2,780 to $ 2,130 today). Thorchain, the main channel used by hackers to wash money, also won $ 5.9 in the volume of transactions and $ 5.5 million in the management of Handling Fees due to hackers’ laver money.
