TechFlow News, on February 27, according to on-chain analyst EmberCN (@EmberCN), the hacker behind the Bybit theft laundered ETH into BTC via THORChain, generating $2.91 billion in trading volume and $3 million in fee revenue for THORChain.
Data shows the hacker began laundering activities on February 22, contributing significant trading volume over a five-day period. Prior to this, THORChain's average daily trading volume was around $80 million; during the hacker's activity, the average daily volume surged to $580 million.
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