The victims claim the platform’s behavior, which they describe as “negligent and illegal,” led to the compromise of numerous user wallets.
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“In many instances, users lost entire portfolios,” the lawsuit states.
MistTrack analysts said hackers used THORChain’s cross-chain liquidity protocol to hide stolen funds. The platform has previously been used to launder cryptoassets stolen by the DPRK’s close-knit Lazarus Group. Elliptic analysts noted that the funds were exchanged for bitcoins.