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Ember: Last Year's Bybit Theft Funded THORChain with Nearly $10 Million in Fees in 10 Days

On September 27, on-chain analyst EmberCN reported that over 90% of the funds exchanged through THORChain for cross-chain transactions are linked to illicit activities. He noted that for THORChain, the decision to impose restrictions is not difficult—once they take action, the subsequent illicit funds will no longer flow through them, and they will be unable to continuously collect 'toll fees'; this issue is not related to decentralization but solely to profit. Ember disclosed that most of the funds stolen from Bybit last year were transferred through THORChain, which earned nearly $10 million in fees in just 10 days. Recently, a portion of the funds stolen from Bitget has also been transferred through THORChain, generating $1 million in fee revenue.

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