THORChain, a decentralized protocol known for enabling cross-chain cryptocurrency swaps, has recently been in the spotlight due to a series of significant developments. The protocol experienced a record $4.6 billion in transaction volume following a major hack on Bybit, highlighting its role in facilitating large-scale crypto swaps. However, this surge in activity has also drawn scrutiny, with accusations of the platform being used for illicit activities, including money laundering, which has raised concerns about regulatory oversight and compliance.
In response to financial challenges, THORChain has paused its Lending and Savers programs due to a reported $200 million in toxic debt, reflecting internal struggles within the DeFi network. Despite these setbacks, THORChain's exchange saw an 8% increase in activity after lifting a trading pause, indicating resilience and continued interest from the crypto community. The platform's future remains uncertain as it navigates these operational and reputational challenges, with its commitment to decentralization being both a strength and a point of contention.
THORChain Under Fire: RUNE's Struggles Amid Governance Turmoil
October 10, 2025
1 min read
THORChain, a decentralized protocol known for enabling cross-chain cryptocurrency swaps, has recently been in the spotlight due to a series of significant developments. The protocol experienced a record $4.6 billion in transaction volume following a major hack on Bybit, highlighting its role in facilitating large-scale crypto swaps.