$3.6B flees Binance on reopen, THORChain co-founder opposes coin freeze: Hodler’s Digest
Binance has reopened withdrawals following the world’s biggest ever hack, and THORChain co-founder argues it should not halt the protocol to comply with FBI demands.
$3.6 billion in assets have fled Binance following its reopening after the largest hack in history, according to THORChain co-founder JP Thor. The decentralized exchange reopened withdrawals for 15 blockchain networks, processing $4.65 billion in withdrawals and receiving $1 billion in deposits. THORChain co-founder argues against freezing the protocol to comply with FBI demands, stating that THORNode operators should remain true to decentralization and permissionlessness ideals.
The hack, attributed to North Korean hackers, resulted in $6.3 billion in stolen assets, with about $2.84 billion frozen on chain. THORChain halted nine chains, including Bitcoin, Ethereum, and Tron, after automated systems paused the protocol. The protocol can still operate with as few as four nodes processing transactions.
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