North Korean Hackers Launder $240M on THORChain, Chief Developer Resigns

The Lazarus Group, a North Korean hacker collective, has been accused of laundering over $240 million through THORChain, leading to the resignation of the platform's chief developer. According to data from Arkham, wallets linked to Lazarus have transferred significant amounts of ETH through THORChain, primarily exchanging it for native BTC.

In response to this incident, THORChain's lead developer, @Pluto9r, announced his resignation after four years in the role. The THORChain network's core validator, TCB (@1984_is_today), disclosed that most of THORChain's activity stems from the largest financial theft in human history, originating from North Korean hackers' money laundering activities, posing a national security issue.

THORChain is currently facing insolvency issues, with its savings and loan features suspended. The platform plans to address a $200 million debt crisis through the issuance of equity tokens. This incident highlights the growing concern over the security of decentralized finance (DeFi) platforms and the need for robust measures to prevent and mitigate financial crimes.