{"id":37753,"date":"2025-03-04T15:00:24","date_gmt":"2025-03-04T12:00:24","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=37753"},"modified":"2025-03-04T14:59:52","modified_gmt":"2025-03-04T11:59:52","slug":"thorchain-raises-5-million-after-bybit-hack","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/thorchain-raises-5-million-after-bybit-hack\/","title":{"rendered":"THORChain Raises $5 Million After Bybit Hack"},"content":{"rendered":"<p>The decentralized cross-chain liquidity protocol <strong>THORChain<\/strong> has been at the center of controversy in the crypto world in recent days. <strong>The fact that hackers who stole $1.4 billion in assets from the Bybit exchange used THORChain in their fund movements brought up allegations that the protocol facilitated illegal transfers.<\/strong><\/p>\n<p>The February 21 <strong>Bybit attack was recorded as one of the biggest hacking incidents in crypto history.<\/strong> Blockchain security firms stated that the North Korea-linked <strong>Lazarus Group<\/strong> was behind the attack. Hackers <strong>made extensive use of THORChain<\/strong> to launder stolen assets and the protocol&#8217;s transaction volume exploded.<\/p>\n<ul>\n<li><strong>THORChain&#8217;s total swap volume exceeded $5.4 billion.<\/strong><\/li>\n<li><strong>The protocol generated $5.5 million in revenue after the hack.<\/strong><\/li>\n<li><strong>In a single day after the attack, $1 billion in swap volume was recorded.<\/strong><\/li>\n<li><strong>On February 27, THORChain&#8217;s daily revenue reached $554,000.<\/strong><\/li>\n<\/ul>\n<p>In this process of increasing discussions on crypto security, <strong>THORChain is criticized for not being able to prevent hackers&#8217; transactions due to its decentralized structure.<\/strong><\/p>\n<h3><strong>Resignation Decision from THORChain Developer<\/strong><\/h3>\n<p>After the protocol was used by hackers, <strong>internal discussions started in the THORChain community.<\/strong> On February 28, <strong>a developer announced his departure from the protocol.<\/strong><\/p>\n<p>One of THORChain&#8217;s core developers, who goes by the pseudonym <strong>&#8220;Pluto<\/strong> \u201d, <strong>announced that he was leaving the project after a decision to block North Korea-linked illicit funds was overturned.<\/strong><\/p>\n<p>In a February 27 post, Pluto said, <strong>&#8220;I will no longer contribute to THORChain<\/strong>.\u201d<\/p>\n<p>While these discussions continued, <strong>Elliptic identified 11,084 wallet addresses linked to the Bybit hack on February 26.<\/strong> Bybit CEO Ben Zhou said on March 4 that <strong>$280 million of the stolen funds have been completely lost<\/strong>.<\/p>\n<p><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"nofollow noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram,\u00a0<\/strong><\/a><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"nofollow noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/strong><\/a>,\u00a0and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The decentralized cross-chain liquidity protocol THORChain has been at the center of controversy in the crypto world in recent days. The fact that hackers who stole $1.4 billion in assets from the Bybit exchange used THORChain in their fund movements brought up allegations that the protocol facilitated illegal transfers. The February 21 Bybit attack was<\/p>\n","protected":false},"author":6,"featured_media":37758,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[654,1722],"class_list":["post-37753","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bybit","tag-thorchain"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>THORChain Raises $5 Million After Bybit Hack - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/thorchain-raises-5-million-after-bybit-hack\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THORChain Raises $5 Million After Bybit Hack - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"The decentralized cross-chain liquidity protocol THORChain has been at the center of controversy in the crypto world in recent days. The fact that hackers who stole $1.4 billion in assets from the Bybit exchange used THORChain in their fund movements brought up allegations that the protocol facilitated illegal transfers. The February 21 Bybit attack was\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/thorchain-raises-5-million-after-bybit-hack\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-04T12:00:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-03-04T11:59:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/03\/kripto_ce-10.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/thorchain-raises-5-million-after-bybit-hack\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/thorchain-raises-5-million-after-bybit-hack\/\",\"name\":\"THORChain Raises $5 Million After Bybit Hack - Coin Engineer\",\"isPartOf\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/thorchain-raises-5-million-after-bybit-hack\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/thorchain-raises-5-million-after-bybit-hack\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/03\/kripto_ce-10.png\",\"datePublished\":\"2025-03-04T12:00:24+00:00\",\"dateModified\":\"2025-03-04T11:59:52+00:00\",\"author\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\"},\"breadcrumb\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/thorchain-raises-5-million-after-bybit-hack\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/coinengineer.net\/blog\/thorchain-raises-5-million-after-bybit-hack\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/thorchain-raises-5-million-after-bybit-hack\/#primaryimage\",\"url\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/03\/kripto_ce-10.png\",\"contentUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/03\/kripto_ce-10.png\",\"width\":1920,\"height\":1080,\"caption\":\"THORChain\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/coinengineer.net\/blog\/thorchain-raises-5-million-after-bybit-hack\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/coinengineer.net\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"THORChain Raises $5 Million After Bybit Hack\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\",\"url\":\"https:\/\/coinengineer.net\/blog\/\",\"name\":\"Coin Engineer\",\"description\":\"Btc, Coins, Pre-Sale, DeFi, NFT\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/coinengineer.net\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\",\"name\":\"Tanju Akb\u0131y\u0131k\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g\",\"caption\":\"Tanju Akb\u0131y\u0131k\"},\"url\":\"https:\/\/coinengineer.net\/blog\/author\/cetanju\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"THORChain Raises $5 Million After Bybit Hack - Coin Engineer","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/coinengineer.net\/blog\/thorchain-raises-5-million-after-bybit-hack\/","og_locale":"en_US","og_type":"article","og_title":"THORChain Raises $5 Million After Bybit Hack - Coin Engineer","og_description":"The decentralized cross-chain liquidity protocol THORChain has been at the center of controversy in the crypto world in recent days. The fact that hackers who stole $1.4 billion in assets from the Bybit exchange used THORChain in their fund movements brought up allegations that the protocol facilitated illegal transfers. The February 21 Bybit attack was","og_url":"https:\/\/coinengineer.net\/blog\/thorchain-raises-5-million-after-bybit-hack\/","og_site_name":"Coin Engineer","article_published_time":"2025-03-04T12:00:24+00:00","article_modified_time":"2025-03-04T11:59:52+00:00","og_image":[{"width":1920,"height":1080,"url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/03\/kripto_ce-10.png","type":"image\/png"}],"author":"Tanju Akb\u0131y\u0131k","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Tanju Akb\u0131y\u0131k","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/coinengineer.net\/blog\/thorchain-raises-5-million-after-bybit-hack\/","url":"https:\/\/coinengineer.net\/blog\/thorchain-raises-5-million-after-bybit-hack\/","name":"THORChain Raises $5 Million After Bybit Hack - Coin Engineer","isPartOf":{"@id":"https:\/\/coinengineer.net\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/coinengineer.net\/blog\/thorchain-raises-5-million-after-bybit-hack\/#primaryimage"},"image":{"@id":"https:\/\/coinengineer.net\/blog\/thorchain-raises-5-million-after-bybit-hack\/#primaryimage"},"thumbnailUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/03\/kripto_ce-10.png","datePublished":"2025-03-04T12:00:24+00:00","dateModified":"2025-03-04T11:59:52+00:00","author":{"@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546"},"breadcrumb":{"@id":"https:\/\/coinengineer.net\/blog\/thorchain-raises-5-million-after-bybit-hack\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/coinengineer.net\/blog\/thorchain-raises-5-million-after-bybit-hack\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/thorchain-raises-5-million-after-bybit-hack\/#primaryimage","url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/03\/kripto_ce-10.png","contentUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/03\/kripto_ce-10.png","width":1920,"height":1080,"caption":"THORChain"},{"@type":"BreadcrumbList","@id":"https:\/\/coinengineer.net\/blog\/thorchain-raises-5-million-after-bybit-hack\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/coinengineer.net\/blog\/"},{"@type":"ListItem","position":2,"name":"THORChain Raises $5 Million After Bybit Hack"}]},{"@type":"WebSite","@id":"https:\/\/coinengineer.net\/blog\/#website","url":"https:\/\/coinengineer.net\/blog\/","name":"Coin Engineer","description":"Btc, Coins, Pre-Sale, DeFi, NFT","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/coinengineer.net\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546","name":"Tanju Akb\u0131y\u0131k","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g","caption":"Tanju Akb\u0131y\u0131k"},"url":"https:\/\/coinengineer.net\/blog\/author\/cetanju\/"}]}},"_links":{"self":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/37753","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/comments?post=37753"}],"version-history":[{"count":3,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/37753\/revisions"}],"predecessor-version":[{"id":37757,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/37753\/revisions\/37757"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media\/37758"}],"wp:attachment":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media?parent=37753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/categories?post=37753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/tags?post=37753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}