Pangolin Intelligence's Jonty says THORChain's volume spikes after North Korean hacks, with over 99% of it tied to laundering "When TraderTraitor hacks happen like this, and…
Original source excerpt
Pangolin Intelligence's Jonty says THORChain's volume spikes after North Korean hacks, with over 99% of it tied to laundering "When TraderTraitor hacks happen like this, and we've seen this with pret…
Pangolin Intelligence's Jonty says THORChain's volume spikes after North Korean hacks, with over 99% of it tied to laundering "When TraderTraitor hacks happen like this, and we've seen this with pretty much every TraderTraitor attack, Bitget, LayerZero, Bybit, the WazirX hack, etcetera, there are massive, massive spikes in the volume of funds that is being moved through THORChain." "To the point where 99% plus of the volume through THORChain on those given days is just people laundering money on behalf of North Korea." "Certainly on those particular days, it is virtually all of the volume and all of the fees that are being earned by affiliates and all of the fees going to the arbitragers. It's clearly just people laundering on behalf of TraderTraitor." "What kind of industry do we wanna build? If your principles just lead to enabling a state like North Korea to steal billions and billions of dollars of cryptocurrency, then I don't care how well those principles work in an ideal world." "In the real world, they're not offering anybody any value." "I don't subscribe to the idea that that's an industry that we wanna build."
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