THORSwap Crypto Exchange Takes Drastic Action To Thwart Illicit Activity
Portfolio Pulse from Murtuza Merchant
THORSwap, a decentralized exchange built on the THORChain platform, has temporarily transitioned its interface into maintenance mode due to concerns about potential illicit funds movement. The exchange is working with advisors, legal teams, and law enforcement agencies to address the issue. The move comes after the 'FTX cybercriminal' reportedly moved 22,500 Ethereum, valued at $38 million, using THORChain and Railgun.
October 06, 2023 | 4:58 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
The 'FTX cybercriminal' reportedly exchanged Ethereum for Bitcoin using THORChain and Railgun. This could raise security concerns among Bitcoin investors.
The news about the 'FTX cybercriminal' exchanging Ethereum for Bitcoin could raise security concerns among Bitcoin investors and potentially impact the price of BTC in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
The 'FTX cybercriminal' reportedly moved a large amount of Ethereum using THORChain and Railgun. This could raise security concerns among Ethereum investors.
The news about the 'FTX cybercriminal' moving a large amount of Ethereum could raise security concerns among Ethereum investors and potentially impact the price of ETH in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
THORSwap, built on the THORChain platform, is under scrutiny due to potential illicit activity. This could negatively impact investor sentiment towards THORChain.
The news about potential illicit activity on THORSwap, which is built on the THORChain platform, could lead to negative sentiment among investors and potentially impact the price of RUNE in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100