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.
Eleanor Ashworth is editor-in-chief at BTCNews. A Cambridge-trained journalist with 18 years across the Financial Times, Reuters and the Telegraph, she joined the crypto beat in 2017 after covering the Bank of England and HM Treasury. She holds the SABEW Best in Business award (2022) and was shortlisted for the British Journalism Awards (2023). At BTCNews she sets the editorial line for Bitcoin and macro markets coverage, with a focus on institutional adoption, regulation and central-bank policy. Based in London.
