Ethereum News: THORChain Faces Turmoil as Core Developer Resigns Over Handling of North Korean Hacker Transactions

The decentralized crosschain swap protocol THORChain is facing significant turmoil as a core developer has resigned over the protocol’s handling of transactions linked to North Korean hackers. This development could have implications for the future of THORChain and the cryptocurrency community.

THORChain Developer Resigns Over North Korean Hacker Block Reversal

A CORE developer of THORChain, a decentralized crosschain swap protocol, has resigned after a vote to block transactions linked to North Korean hackers was reverted. Another validator has also threatened to leave due to concerns over the protocol’s handling of illicit funds. The developer, known as ’Pluto’, announced the resignation in a February 27 post, stating they would immediately stop contributing but assist in transitioning responsibilities. The decision followed a controversial vote by THORChain validators to halt Ether (ETH) transactions to prevent the Lazarus Group, a North Korean state-backed hacking collective, from laundering stolen funds.

Vitalik Buterin Urges Better Wallet Security to Mitigate Crypto Loss Risks

Ethereum co-founder Vitalik Buterin has emphasized that crypto loss extends beyond theft, with many holders losing significant funds due to technical failures, forgotten passwords, or physical mishaps. In a recent post, Buterin argued that the crypto industry must develop robust wallet security solutions that address not only hacking risks but also safeguard against the permanent loss of digital assets.

Mirana Ventures Continues to Buy Ethereum (ETH) in OTC Deals and Deposit to Bybit

Mirana Ventures, a global investment fund related to the founders of Bybit, has been actively buying Ethereum (ETH) in OTC deals and depositing them to the Bybit exchange. The fund acquired 21,667 ETH from the FalconX brokerage and made deposits to Bybit. Mirana Ventures received its starting capital from some of Bybit’s co-founders and has been buying ETH during market dips. Recently, Bybit received another deposit of 36.89 ETH from Mirana while trying to recover its ETH reserves.

Market Update: ETH and SOL Among Declining Coins

In today’s market review, several major coins, including ETH and SOL, have experienced declines. The global market cap has fallen by 7.25% to $2.64T, while trading volume has increased by 3.65% to $165.46B. Specific details on ETH and SOL’s performance were not provided, but the overall trend remains bearish.