ChainCatcher reported that on-chain analyst Yujin said more than 90% of the funds using THORChain for cross-chain swaps are tied to illicit activity. According to Yujin, most of the funds stolen from Bybit last year were moved through THORChain, which collected nearly $10 million in fees over a 10-day period. He also said part of the funds stolen from Bitget recently has already been transferred through THORChain, generating $1 million in fee revenue so far. The remarks focus on THORChain’s role in moving stolen assets across chains and the fee income linked to those transfers.
ChainCatcher reported that on-chain analyst Yujin said more than 90% of the funds using THORChain for cross-chain swaps are illicit.
Yujin said that most of the funds stolen from Bybit last year were moved through THORChain, which collected nearly $10 million in fees within 10 days.
He added that part of the funds stolen from Bitget recently has already been transferred through THORChain, and the protocol’s fee revenue from that activity has reached $1 million.
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