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THORChain Records $4.6B Weekly Volume Following Bybit Security Breach

  • THORChain, a decentralized cryptocurrency exchange protocol, processed a record $4.6 billion weekly trading volume.
  • The surge in trading activity was driven by the Bybit security breach, where hackers stole $1.4 billion in ETH.
  • THORChain was used as one of the main platforms to launder the stolen funds, with the entire 499,000 ETH being laundered within 10 days.
  • From the laundering activity, THORChain earned $5.5 million in fees.

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