THORChain Developer and Validator Exit Over Voting on North Korean Hacker Transactions

A THORChain developer announced they are stepping away from the protocol after a vote to block transactions linked to North Korean hackers was reversed. The developer, known by the pseudonym “Pluto,” stated on February 27 that they will no longer contribute to THORChain but will remain available to assist with the transition of their responsibilities.

This decision came after THORChain validator “TCB” revealed that a vote to stop Ether trading to prevent transactions related to the Lazarus Group, a North Korean hacking group, was quickly reversed.

Lazarus Group Moves $605 Million via THORChain, Boosting Volume

TCB announced on X that they would also consider exiting if a solution to stop North Korean flows is not found soon. The Lazarus Group has continued to use THORChain to move funds from a $1.5 billion hack of Bybit on February 21. 

On February 28, the group transferred $605 million worth of ETH through THORChain, contributing to a significant rise in transaction volume. On February 26, THORChain recorded its highest-ever daily transaction volume at $860 million.

FBI Confirms North Korea’s Role in Bybit Hack

The FBI has confirmed North Korea’s involvement in the Bybit hack and has called on crypto validators and exchanges to block the Lazarus Group.

THORChain founder John-Paul Thorbjornsen stated that the protocol does not launder money and that the rapid movement of funds makes censorship unrealistic.

TCB criticized THORChain, stating it is not truly decentralized and that creating a censorship-resistant structure is difficult due to the small number of actors involved in the network.

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