
The decentralized exchange THORswap, powered by THORchain, stopped its use after the continued'movement of illicit funds' illicit funds through the platform.
THORSWAP said the move was made to'swiftly curtail any further potential illicit activity' and expressed strong opposition to using its platform for any criminal activities. He added: 'I think we have reached a very important point where we should be able to say what we are doing with the information we have learned in the past.
Over 50% of funds transferred through THORSwap are stolen.
In the past four months, Tayvano reported that over 50% of Ethereum had been stolen through the THORSwap router.
The researcher said that 34,583 ETH, or about $57 million, of 'clearly stolen money, were exchanged for Bitcoin via THORSwap. At least 3300 ETH have been laundered through the platform, they said.
The development means that users won't be able to use the Swaps feature on THORSwap. However, they can still borrow and stake their assets through the protocol.
THORSwap's decision does not affect its operations, as its network remains fully operational and capable of supporting a variety of interfaces.
THORSwap only 'caters to users, presents data, and quotes their swap requests, THORChain said, adding that users are still tasked with building a swap and submitting the transaction directly to ETH/BTC nodes.
The atomic and immutable nature of s is the same. No THORChain node can unilaterally affect a transaction; 16/20 work together to sign transactions. If a group fails to do a transaction, they are slashed and the transaction is re-delegated to a different vault.