RUNE Jumps 10.6% as North Korean Hackers Route Binance Loot
The rally follows THORChain's return to cross-chain trading, even as swaps into bitcoin and ether make the stolen funds harder for issuers to freeze.
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The rally follows THORChain's return to cross-chain trading, even as swaps into bitcoin and ether make the stolen funds harder for issuers to freeze.
The cross-chain route moves funds through USDC and ETH before reaching BTC, illustrating how investigators must track assets across multiple networks.
The FBI is urging THORChain and other services to block transactions tied to the theft, while the hackers continue routing funds across chains and swap protocols.
The alert puts pressure on permissionless DeFi services to act on wallet-level intelligence, while exposing how lending protocols can route around stablecoin freezes.
The pause disrupted cross-chain swaps for all users, while also delaying the movement of funds stolen from Binance.
The shared address had previously been used by the Phemex hacker, adding another connection to the trail of stolen funds.
The brief halt exposed a key dependency: distributed validator control cannot override Tether’s power to freeze USDT held in external-chain vaults.
The funds remained intact, but the freeze briefly halted THORChain services and left 19 other addresses blacklisted with no explanation from Tether.
Five days generated 63% of September income, tying the revenue spike to exceptional hack-linked flows rather than broad wallet growth.
The dispute tests where permissionless access ends when stolen funds move through a protocol, with the recent vault attack underscoring the security stakes.
The dispute pits Bitget’s effort to recover stolen funds against THORChain’s refusal to selectively block addresses, while cross-chain swaps keep the attacker’s activity visible.
Swapping ETH for BTC changes the stolen funds’ asset exposure while keeping the cross-chain movement in focus.
The dispute puts THORChain’s permissionless design against calls for targeted intervention after a major exchange breach.
The exchange's Oct. 2 reopening schedule lumps XRP into the final phase, while Bitquery traced 27.63M of the stolen 102.98M XRP flowing toward THORChain and swaps into Bitcoin.
The dispute puts THORChain's emergency controls and validator structure at the center of a wider debate over decentralization and illicit-finance compliance.
The route crossed TRON, Ethereum and THORChain before CoinJoin, showing how roughly 4 BTC moved across chains and services after the theft.
The dispute puts a focus on whether decentralized protocols should intervene when publicly flagged addresses move funds linked to a major exploit.
The case just shifted from a static forensic ledger to a live cross-chain trace: 20.5 BTC routed through 34 swaps while 1,402 BTC of identified loot still sits parked.
The protocol is back online with every Asgard vault and keyshare re-verified, and native Monero swaps now in test as the next feature on the roadmap.
After $16.5B in cumulative DeFi exploits, the latest THORChain incident is forcing protocols toward the centralised-style controls they once resisted — Aave's rsETH bad debt is the canary.