Will This Proposal Block Crypto Laundering On THORChain After Bybit Hack?

This article discusses the aftermath of the Bybit hack in which North Korean hackers stole 500,000 ETH worth over $1.4 billion. The hackers used THORChain to launder a big portion of the stolen funds by converting them to Bitcoin. A developer has proposed a solution to prevent such misuse in the future by allowing node operators to block specific wallet addresses. However, there are concerns about the feasibility and effectiveness of this proposal, as well as potential implications for THORChain’s decentralized nature. The article also highlights the reputational hit THORChain has taken post-hack and how it could impact its standing among investors in 2025.