THORChain Resumes Trading, RUNE Value Rises Amid Security Concerns

THORChain resumed trading on major networks, boosting RUNE by 15%. North Korean hackers exploit THORChain for laundering activities.

THORChain has resumed trading on several networks, including Bitcoin and Ethereum, after a temporary halt due to a refund bug. This development led to a significant increase in the value of RUNE, THORChain's native token. According to Cointelegraph, RUNE experienced a 15% rally following the restart of most swaps. However, three chains remain paused as the platform continues to address the issue.

The resumption of trading on THORChain is significant given the recent activities involving North Korean hackers. CoinDesk reports that these hackers, known as TraderTraitor, have been using THORChain to launder proceeds from a Binance hack. They have been swapping ether for bitcoin, continuing a pattern of conversions that previously involved Tron. This activity highlights the ongoing challenges in securing cryptocurrency networks against illicit activities.

According to Cointelegraph, the restoration of trading on major networks like Bitcoin and Ethereum is a positive step for THORChain, as it works to resolve the remaining issues. Meanwhile, CoinDesk notes the involvement of North Korean hackers underscores the importance of robust security measures in the crypto space. The increase in RUNE's value reflects market optimism about THORChain's ability to manage and overcome these challenges.

Sources

• Cointelegraph — RUNE rallies 15% as THORChain restarts most swaps after halt
• CoinDesk — THORChain's RUNE jumps 10% as North Korean hackers resume laundering Binance loot

This article was generated by AI based on public information and is for reference only. It does not constitute investment advice.