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Cryptocurrency News Articles
THORChain network core validator claims that most of the platform activities are money laundering by North Korean hackers. How true is this?
Feb 28, 2025 at 04:29 pm
THORChain's decentralized nature, while offering cross-chain asset exchange, makes tracing suspicious activity, potentially linked to North Korean hackers, extremely challenging, leaving the accusations' validity uncertain despite unusual transaction patterns.
THORChain is a decentralized cross-chain liquidity protocol designed to enable trustless transactions between different blockchain assets. It builds a unique operating mechanism that allows users to exchange assets between chains, bringing new vitality and convenience to the cryptocurrency market.
Core validators pointed out that some abnormal capital flow patterns on the platform are consistent with known money laundering characteristics of North Korean hackers. They found that some transactions were frequent and huge, with complex sources and destinations, and there were rapid transfers between multiple anonymous wallets, which were suspected to be a sign of money laundering operations.
North Korean hackers are often accused of obtaining funds by attacking cryptocurrency exchanges in the cryptocurrency field. They may use the stolen assets to transfer on different decentralized platforms, trying to cover up the source of funds and legalize them, and THORChain may become one of its targets.
However, it is difficult to confirm that it is a money laundering by North Korean hackers based on the abnormal flow of funds alone. Cryptocurrency transactions are inherently anonymous, and a large number of normal transactions also show complex capital flows. Moreover, in a decentralized network, it is extremely challenging to accurately track the source and ownership of funds, which can easily lead to misjudgment.
Some cryptocurrency security experts are cautious about the allegation. They said that more conclusive evidence is needed, such as code traces associated with North Korean hacker organizations and specific cyber attack patterns, and the analysis of funds flow alone is not enough to be qualitative.
THORChain itself is actively responding to such allegations. Its team said it is strengthening monitoring and analysis of capital flows, introducing more advanced anti-money laundering technologies, trying to identify and block suspicious transactions, and ensuring the security and compliance of the platform.
From a regulatory perspective, the current global regulation of cryptocurrency money laundering is not yet perfect. In the decentralized network environment, it is difficult for regulators to conduct comprehensive and effective supervision of platforms like THORChain, providing potential space for hackers to launder money.
But there are also opinions that core validators may exaggerate the allegations for their own benefit or other reasons. The THORChain platform is developing rapidly, and there may be internal competition or interest games, which has led some validators to use this to discredit some of the platform's activities.
For platform users, such allegations raise concerns. Some users are worried about the security of funds and may choose to reduce transactions in THORChain. But some users believe that the platform will handle it properly, believing that the risks of cryptocurrency transactions exist and that they should not be overly panicked by a single charge.
At the technical level, although the immutable nature of blockchain provides certain clues for fund tracking, the anonymity makes it difficult to determine the true identity. Even if suspicious transactions are found, it is difficult to lock in whether the manipulator behind it is a North Korean hacker.
There is another situation where other malicious organizations may imitate the money laundering methods of North Korean hackers, deliberately creating illusions and confusing the public in order to evade investigation and push the blame to the North Korean hacker group.
In terms of intelligence collection, it is necessary to confirm that North Korean hackers are related to the activities of the THORChain platform, and strong intelligence support is required for intelligence agencies. However, the relevant public information is currently limited, and it is difficult to directly confirm or falsify the allegation.
Although the accusations of the core validators of the THORChain network have some basis, there are many doubts about their authenticity. The interweaving of factors such as abnormal capital flows, technical tracking problems, and imperfect supervision has made it complicated to judge the authenticity of the allegation, requiring more evidence and in-depth analysis.
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