THORChain, a decentralized protocol facilitating digital asset exchange across various blockchains, has seen a significant surge in activities following a recent hack on the Bybit exchange. Reports indicate that hackers successfully stole $1.4 billion worth of Ethereum from Bybit and have been laundering the assets through various wallets and third-party platforms. THORChain has played a major role in facilitating the conversion of stolen assets, earning $5.5 million in fees from $5.9 billion worth of transactions. Despite the challenges, efforts are underway to trace and recover the stolen assets. This incident underscores the importance of security in centralized exchanges and the role of decentralized platforms in transactions post-hack, while the market strives to regain investor confidence.
