Ethereum News: THORChain Faces Major Crisis with Internal Turmoil and National Security Concerns

In the world of cryptocurrencies, decentralized networks are often seen as the pinnacle of financial freedom and security. However, recent developments in the THORChain network have raised serious concerns about its stability and security. Here’s a closer look at what’s happening.

THORChain Faces Crisis as Top Validator Warns of Security Threats

THORChain, a decentralized liquidity network, is facing internal turmoil. A top validator, TCB, revealed he played a role in halting ETH transactions to prevent Bybit hackers, believed to be linked to North Korea, from laundering funds through the system. Chief developer Pluto announced his resignation, signaling internal challenges. TCB warned that the situation had escalated beyond crypto, becoming a national security issue.

Vitalik Buterin Calls for Robust Wallet Security Solutions

Ethereum founder Vitalik Buterin has emphasized the need for truly robust wallet solutions to reduce the risk of accidental crypto losses. Recently, more than $1.4 billion was stolen from crypto exchange Bybit, but Buterin argued that not enough attention is paid to cases where digital assets become inaccessible due to software bugs, forgotten passwords, lost devices, and other reasons. Many victims are too ashamed to talk about these losses as they see no one to blame but themselves.

Despite Ethereum Price Drops, Remittix Token Sees Interest Soar

As Ethereum prices head south, flirting with the possibility of a $2,000 crash, a fresh contender in the ETH ecosystem, Remittix, is bucking the trend. The overall crypto market has suffered steep losses in the past 24 hours, with Bitcoin slipping under $90,000 and Ethereum shedding more than 12% in a sharp downturn. Despite this bleak backdrop, Remittix appears to be thriving, potentially signaling a shift away from pure speculation toward tokens that tackle real-world needs.

Pro-crypto Ex-Lawmaker Patrick McHenry Joins Top Blockchain Firms

Patrick McHenry, former chair of the House Financial Services Committee, has joined three crypto-focused companies since leaving policymaking. He was hired as vice chair of ONDO Finance’s advisory board, which aims to tokenize real-world assets like U.S. Treasuries for trading on decentralized venues such as Ethereum. Ondo Finance currently has nearly $1 billion in tokenized asset deposits according to DefiLlama. Crypto companies have been actively bringing in former policymakers as they prepare for regulatory shifts in Washington.