spacetime

@arkham Thorchain is not a “bridge”. Do better next time

YOU CAN NOW RIGHT CLICK BRIDGES ON ARKHAM Right click on bridging transactions to go directly to the bridge’s explorer page. We added this so that you can easily see if cross-chain transactions go to a different wallet. You can right click on transactions for the following entities: Wormhole Near Intents Stargate Allbridge Relay Link Hyperbridge Circle CCTP Debridge Across Protocol Mayan Finance Thorchain Symbiosis

@laurashin @MiguelMorel @arkham Time to block your dumb ass

.@MiguelMorel of @Arkham explains that ThorChain is the Lazarus Group's chain of choice: they run small tests, conduct the exploit, move the money, and immediately hit ThorChain. The trail is unmistakable to those watching onchain. Timestamps: 🎤 0:00 Introduction and sponsor messages 🔍 2:09 How Arkham's automated monitoring detected the rsETH exploit 🌊 3:18 Why ThorChain is the Lazarus Group's preferred laundering tool ⚖️ 4:30 How the bad debt was created on Aave and how users reacted 🪙 9:36 Miguel's gold bar framework for understanding DeFi contagion 🏦 16:15 How Aave users are using onchain alerts to be first in line 📈 18:36 The free-market case for letting Aave's yield float to clear bad debt 🕵️ 20:46 What the onchain evidence reveals about who conducted the attack

@bartoszbrzozow9 @laurashin @MiguelMorel @arkham @THORChain You should be prosecuted for being a dimwit

@laurashin @MiguelMorel @arkham NO excuse for this, @THORChain devs should be prosecuted.

@laurashin Stupid take. Stick to banks. They have you covered.

Who would you want to see discuss how Thorchain saved itself $500 from the Litecoin reorg but refused to stop DPRK from stealing money from users?

@LeaT_Design @laurashin I know all I have to do is the exact opposite of what you do. You are the lady Cramer.

@laurashin Thorchain saved itself $500? Hell they let DPRK hackers steal from users. Shit protocol.

@rinmokito @THORChain That will be the best news. Every coin delisted from cexs went into true price discovery. Not artificial price suppression and games by those disgusting cexes

@THORChain What if this forces all the CEX to delist $RUNE?

Monero on THORChain is closer than it has ever been. If it lands, anyone on earth with $BTC can access $XMR natively, permissionlessly, with no exchange account and no identity check standing in the way. No centralised platform deciding whether your swap goes through. THORChain sees everything. The swap is fully transparent and traceable on-chain, same as any other chain it supports. What the protocol guarantees is something different: that nobody can stop you from getting there. Permissionless access to the most censorship resistant currency in crypto. That combination is what changes things.

@msobro @TendermintTimmy Can you ask that of bitcoin miners or ethereum miners also? Or your bias clouds your thinking somehow?

@TendermintTimmy Censorship resistance and refusing to process known-stolen funds aren't mutually exclusive. You can honor the cypherpunk ethos and also not be a facilitator of known stolen funds. This can be a clear ethical line.

What the actual fuck is even happening to our industry. Satoshi is probably rolling in his grave. Thorchain is doing everything right, and all these web3 toddlers are upset because they clearly don't even understand the first thing about crypto, and just think this is a space to make quick unregulated buck. Web3 is not just about making money, it's about a core philosophy and belief that in the digital era, TRUE ownership should be possible. That's it. Full stop. It started as something sorta cyberpunk, but as our world as evolved into the online one it is today, this is now something i believe everyone should have access too. But no one seems to appreciate what risks that freedom comes with. By all means, do keep your money in a bank, or invested in stocks, if you enjoy the projection that bring you. But do not expect it in web3. You should not be here because "it's like stocks, but with more potential upside" or you WILL get burned 99/100 times. But for me, the mere concept that anyone in this space would ever expect any funds to be frozen, or help to rendered in general, in the case of a scam or exploit is still absolutely mind boggling to me. It's nice when it happens; it can build trust and save projects. But it inherently should not be expected in this space, it's a built-in, omnipotent risk that everyone should account for at all times. It's just that it's a risk we take because we value the benefits of web3 even more. ------- So, about the recent KelpDAO and LayerZero exploit. You know who's "at fault" for the recent KelpDAO exploit? 1. KelpDAO for failing to enhance their LZ setup, and even further, to completely rely on a third party tool like LZ without deeply, intimately understanding it; the least i'd expect for a project handling 100s of millions of dollars.* 2. LayerZero for allowing so many teams to use their setup in the 1:1 config, and to be honest, for having the exploit in that 1:1 DVN config at all.* 3. And finally, in a weird but very real way, as rough as it sounds. It's on everyone that put money into KelpDAO, trusting a less than 5 year old protocol with hundreds of millions of dollars, without inspecting the code themselves.** This is web3, and there are inherent risks that people should understand. Hackers wouldn't have the incentive they do for these thefts if people weren't so willing to ape their funds into every new "opportunity" that emerges with limited due diligence, or if teams put more into security then they do chasing TVL. *No, i am genuinely not trying to bash either team here, we're going to see a lot more exploits like this soon from teams far more seasoned than them, (and not just in web3, i.e. mythos style threats.) Im just saying that objectively, some blame obviously lies there. **No, im not saying i inspect the source code of every dApp i put money into. Not at all. But what i am saying is that i put money in there fully understanding that i didn't inspect it, that it's not FDIC insured or similar, and that any loss incurred is on me. Again, this is the true wild west of the internet and of finance, it's not your easy ticket to a lambo. ------- MEANWHILE There sits Thorchain, following the core philosophy and ethos of web3, just providing the service it promised, no questions asked, full stop. And yet, it's somehow getting hate for it? In the attached image, one commenter says "you see stolen funds getting laundered on your platform and you do nothing." And it truly makes me wonder if he's just like "professor" Jiang that wants to know where the bitcoin servers are. Just because there's a @THORChain twitter account that someone owns, does NOT mean that anyone "owns" ThorCHAIN the blockchain. It's no one persons platform. If you don't think it should be a completely open DeFi exchange with no restrictions, then go buy a fuck load of $RUNE and start talking to some validators, and make it that way through governance. But since that won't be happening, id instead urge you and everyone like these two in the image to take a step back and reconsider what you're actually even asking for here. Even if you did control Thorchain, do you think it would continue to exist if you turned it into a centralized, censorable version of it's current self? Absolutely not, because then it's little different from a CEX. Decentralization is not all upside, and if you were every told that, im sorry you were mislead. It's far from the greatest thing since sliced bread. Decentralization has MASSIVE drawbacks compared to centralized systems in many ways; but we value it for the specific ways in which it provides a better alternative. Hating on Thorchain for operating as designed is just absurd. If not from everything i've listed here, then just for that simple fact. ------ Bottom line, Thorchain was built to do exactly this; let anyone in the world swap any amount of crypto between wallets and chains whenever they want. If you don't like that fact, that's perfectly fine, i certainly wouldn't ever judge you for it, but, it probably means you need to reevaluate if you should even be involved in crypto at all.

@bax1337 System auto halts the chain on detecting fishy activity. This is vastly different than so called crypto bros wanting to censor transactions. Who decides which ones to censor? You? Or your stupid set of followers? Go back to tradfi. They’ve got you covered with all the censoring.

anybody know why I can't swap from LTC-->BTC on any thorchain frontends? ETH-->BTC seems to be working fine🤔🤔🤔

@TBSocialist Why oh why do you use the internet which also strengthens DPRK in their online endeavors? You have to stop using it.

One of the funnier parts of this story I think is that Erik Voorhees, big time crypto libertarian and anti-communist, is also a big fan of Thorchain and I assume of their work with helping fund the DPRK Thank you comrade 🫡

@GoodwillHurtin @jussy_world @THORChain Rotten is your mind. Go back to tradfi where you already have all you seek.

@jussy_world @THORChain Thorchain should just rot in hell as well. Neutral my ass. You see stolen funds getting laundered on your platform and you do nothing. You are a thief too and deserves to get punished

Meet the chain where HACKERS CASH OUT: @THORChain DPRK Hackers keep using Thorchain to launder money while chain keep collecting fees • FTX exploiter: $124M • Bybit hacker: $1.2B+ • Balancer exploiter: $120M • KelpDAO hacker: $175M (in 36h) $910K in fees from KelpDAO alone, More than their whole previous month ($709k) Team claim themselves “neutral” But was it really? While hundreds of millions got laundered through them Has this industry cared more about fees than users money?

@PerpetualCow @TResearchoor @KelpDAO @THORChain Most horrible take. Why are you even doing crypto. Tradfi fills your needs. Nobody is supporting criminals. Crypto was about being neutral. Like many things both good and bad use the same thing. Internet is also used by the criminals so you want everyone online be sanctioned?

@TResearchoor @KelpDAO @THORChain hurrr yeah let me go break some sanctions so a guy on twitter doesn't call me spineless! great idea

The @KelpDAO funds have started being laundered through @THORChain and it's putting the whole industry at risk with the illicit funds. Their current pattern of transactions look like they are preparing to send it through Wagyu, since it is indeed the best place to acquire XMR fast and as anon as possible. In light of that I'm making the difficult decision to temporarily pause all XMR swaps/bridges from Wagyu to pre-emptively prevent DPRK from utilizing it. Having these funds land in the Wagyu protocol (and therefore in the @HyperliquidX system) is something that harms us all. I will re-evaluate later on when to enable XMR swaps/bridges again, thank you all for your patience. Also anyone who already held $XMR1 prior to this pause is still able to withdraw ofc, FUNDS ARE ALWAYS SAFU. If DPRK's funds started being laundered through Hyperliquid it would cause mass chaos for the whole industry, it's for the best that this happens temporarily.

@busagl @lookonchain Define laundering. Hint: what you know is wrong

@lookonchain THORChain is the best token laundering platform! 👹

The Balancer exploiter, who stole nearly $120M, is active again after 5 months and is laundering funds by swapping $ETH into $BTC through THORChain. Over the past hour, the exploiter moved 1,100 $ETH ($2.55M) and is converting it into $BTC. intel.arkm.com/explorer/addre…

@ItsChiAnh @andyyy Is it? What was bitcoin for? I bet you believe it is still purpose built for the Silk Road. Want to then go down the chain of coins?

@andyyy Thorchain is always the go-to laundromat after every hack lmao it's like their chain was literally built for laundering at this point

Why would Thorchain allow the bad actor to move their illegal funds through the bridge??? All for some veil of decentralization. Makes no sense.

@andyyy Is your measuring yardstick as big as your bong?

@jpthor “If you are talking about CEX delisting it - please go ahead. Unshackle the beast. Set it free from years of CEX manipulation.”

DeFi United is cool - it’s the community taking responsibility and coordinating a bail-out. Exactly what happened to TC a year ago with $TCY For the second part - $RUNE is its own exchange. You can’t delist it. If you are talking about CEX delisting it - please go ahead. Unshackle the beast. Set it free from years of CEX manipulation.

@BooneW @AgentChud @grok From his chainflip ass

@AgentChud @grok Where are you getting your definition ser?

It's a critical hop in the laundering process. Fees > everything though innit

@alexeiZamyatin Do you even know what decentralization and neutral protocols mean? What a dumbass you are.

Thorchain once again supporting crime. Returning the swap profits should be the bare minimum here. Thorchain maxis will say "its not laundering bc its transparent" but at the end of the day facts are facts: DPRK used Thorchain as part of their laundering operations.

@khalkaz Huh? But the hack was some 200 odd million only. Where did the rest come from?

THORChain just works. When volume flows, price action follows $600M processed in the last 24hr $RUNE spiked to $0.50 as system income saw massive inflows

@jpthor Sorry, but blacklisted stables will stop the churn. Grandiose claims won’t be able to stand state pressure if they really want to go after it. So far it was all transparent and volume is minuscule so maybe they didn’t care much.

@jpthor @BooneW @THORChain I believe the reason cited was observations by other nodes is not possible without a univault. I am no expert