THORChain facilitates Bitcoin swaps amid hacker probe

VERA Brief

AI-generated. Grounded in the article and its cited sources.

THORChain processed cryptocurrency swaps involving ETH and BTC. This occurred despite a request from Bitget to block addresses linked to a theft, highlighting challenges in tracing illicit funds in decentralized exchanges.

Key facts

• THORChain facilitated the exchange of approximately 2,390 Ether for 75.2 Bitcoin through 27 swaps.
• The activity happened while Bitget requested THORChain to block addresses associated with a theft.
• The swaps moved funds into Bitcoin.
• The blockchain network's operations are under scrutiny following a theft incident.
• The situation raises questions about tracing and intercepting illicit funds within decentralized exchange protocols.