THORChain, a popular cross-chain swapping protocol, experienced a security breach resulting in an estimated loss of around $1.2 million. The breach has raised concerns about the platform’s security, especially as it has faced scrutiny for facilitating illicit fund movements after previous large hacks. Despite pressures, THORChain operators have maintained network operations, sparking debate about decentralization versus crime prevention in DeFi. The incident highlights ongoing risks in decentralized finance.

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