After helping the Binance hacker launder over 40000000 USD,RUNE nearly 24-hour decline of approximately 20%

AT A GLANCE

RUNE Down approximately 24 over the past 20%hours, stolen Binance funds were swapped through THORChain, sparking security and regulatory controversy.

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After helping the Binance hacker launder over 40000000 USD,RUNE nearly 24-hour decline of approximately 20%BlockBeats reported that November 2, according to HTX market data,THORChain's native token RUNE fell sharply by approximately 24 over the past 20%hours, at one point falling below 0.5 USD.

It is worth noting that during the previous Bitget hack, a large volume of funds was cross-chain swapped through THORChain, driving a surge in trading volume and fees. The market viewed this as positive for protocol revenue, and RUNE rose accordingly. This decline, however, is due to heightened regulatory and security risks, with the market concerned about whether THORChain can resolve the conflict between security and regulation while maintaining permissionlessness.

On-chain data show that after this Binance was stolen, the hacker deposited approximately THORChain through 185100000 TRX and 3830000 USDT, across approximately 2697 deposits in total, and net-swapped approximately THORChain through 48300000 USD, actually receiving approximately 42700000 USD and losing approximately 5700000 USD to fees and slippage. Meanwhile,FBI, the U.S. Secret Service, and IRS-CI jointly requested that THORNode,RPC nodes, and DeFi service providers intercept fund flows associated with North Korean hackers.THORChain co-founder Chad Barraford said that node operators have no more information than the public and have not explicitly committed to proactively blocking addresses. Another founder,JP Thor, publicly opposed cooperating with freezes, arguing that decentralization and permissionless principles should be upheld.

Original link https://m.theblockbeats.info/flash/374965

Key points

HTX Market data show that THORChain's native token RUNE fell sharply by approximately 24 over the past 20%hours, at one point falling below 0.5 USD。
On-chain data show that after Binance was hacked, the hacker deposited approximately THORChain through 185100000 TRX and 3830000 USDT, across approximately 2697 deposits in total.
The hacker net-swapped approximately THORChain through 48300000 USD, actually receiving approximately 42700000 USD and losing approximately 5700000 USD。
FBI, the U.S. Secret Service, and IRS-CI jointly requested that THORNode,RPC nodes, and DeFi service providers intercept fund flows associated with North Korean hackers.
THORChain Co-founder Chad Barraford said that node operators have no more information than the public and have not explicitly committed to proactively blocking addresses.
Another founder,JP Thor, publicly opposed cooperating with freezes, arguing that decentralization and permissionless principles should be upheld.

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

After stolen funds were swapped through THORChain, attention turned to whether it should intercept the relevant funds and to the conflict between permissionless principles and security and regulatory requirements. The report links these concerns to RUNE's decline.

Why it matters to readers

The incident involves crypto-asset prices, cross-chain protocol security, fund interception, and regulatory requirements, and may affect the market's assessment of THORChain security and compliance trust.

Cross-chain protocols can facilitate asset swaps between different blockchains. Fees and slippage reduce the amount ultimately received; this incident also shows that decentralized protocols may face disputes over how to handle stolen funds.

Risks and unknowns

The report is relayed by a professional media outlet; some on-chain data, law-enforcement requests, and individuals' statements are not supported by independently verifiable materials.
It remains unclear whether stolen Binance funds will continue to be transferred through THORChain or other routes.
It remains unclear whether THORChain nodes,RPC nodes, and DeFi service providers will take interception measures.
It remains unclear whether relevant U.S. law-enforcement agencies and THORChain will publicly disclose further handling results.

After helping the Binance hacker launder over 40000000 USD,RUNE nearly 24-hour decline of approximately 20%

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