North Korea's TraderTraitor Uses THORChain to Launder Binance Hack Funds, RUNE Jumps 10%

North Korean hacking collective TraderTraitor is actively laundering stolen cryptocurrency from the recent Binance hack through THORChain, a decentralized cross-chain liquidity protocol. According to blockchain analysts, the group swapped ether for bitcoin on THORChain after previously converting funds from Tron. This activity has coincided with a 10% surge in the price of RUNE, THORChain’s native token, as market participants react to the increased usage and potential regulatory scrutiny. The laundering method highlights the ongoing challenge for decentralized finance platforms in preventing illicit financial flows, even as they offer legitimate cross-chain services. The Binance hack, attributed to TraderTraitor, underscores the persistent threat posed by state-sponsored cybercriminals to major cryptocurrency exchanges. As authorities track these movements, THORChain’s role in facilitating such transactions may draw further attention from regulators and law enforcement, potentially impacting its operations and token value. The situation serves as a reminder of the delicate balance between privacy, decentralization, and compliance in the crypto ecosystem.