RUNE prices jumped 10% as North Korean hackers resumed laundering Binance hack proceeds by swapping ether for bitcoin through the THORChain protocol.
RUNE jumped 10% as North Korea's TraderTraitor resumed routing Binance hack proceeds through THORChain, swapping ether for bitcoin after an earlier wave of conversions from Tron. Heavier cross-chain swap flow means more network fees and activity for THORChain, which is what drove the token higher. The move rests on illicit flows that could attract scrutiny or be cut off.
THORChain is being used to swap ether for bitcoin from Binance hack proceeds, and the token jumped 10% on the resulting activity.
Yes, North Korea's TraderTraitor is routing the funds after an earlier wave of conversions from Tron.
The article says ether is being swapped for bitcoin through THORChain as hackers launder Binance hack proceeds. That implies ether selling into bitcoin, a mild negative for ETH demand and price. The size of the flows is not given, so the effect could be small.
Hack proceeds are being converted from ether into bitcoin through THORChain, which means selling pressure on ETH.
Bitcoin is the destination asset as ether from the Binance hack is swapped through THORChain. That implies some buying interest in BTC, but the article gives no amounts, so the effect on price is unlikely to be material on its own.
Ether is being swapped for bitcoin through THORChain, so BTC is the receiving asset, but the article gives no amounts.
THORChain's RUNE token surged 10% following reports that the North Korean hacking group TraderTraitor is utilizing the protocol to launder stolen Binance funds. The group is currently swapping ether for bitcoin through the cross-chain platform, driving increased network activity and fee generation despite the illicit nature of the transaction flows.
THORChain is being used to swap ether for bitcoin from Binance hack proceeds, and the token jumped 10% on the resulting activity.
Yes, North Korea's TraderTraitor is routing the funds after an earlier wave of conversions from Tron.