Theorycraft⚡️⚒ 🛡 retweeted
THORChain is explicitly under the FBI's crosshairs now, and we have to have an honest conversation on if it can survive the pressure or not.
But let's be clear: if we value permissionless finance, then it must, or someone else must.
Theorycraft⚡️⚒ 🛡 retweeted
It’s time for purity tests in crypto.
If you’re rooting for the FBI over a censorship-resistant protocol, you don’t belong in crypto.
If you lost hundreds of millions in customer funds and blamed the protocol that couldn’t censor them, you don’t belong in crypto.
If you have a large podcast and platformed failed exchange CEOs attacking censorship resistance without one voice from the other side, you don’t belong in crypto.
If you built a freeze button into your protocol and applauded yourself for using it, you don’t belong in crypto.
If you cheered along while protocols used their freeze buttons, you don’t belong in crypto either.
If you laughed at the slippery slope argument, you don’t belong in crypto. Because now look: the FBI is here.
If you think Satoshi built all this so the anointed could say no, you don’t belong in crypto.
Nobody can say no. That’s the whole invention. Defend it or go back to banking.
Theorycraft⚡️⚒ 🛡 retweeted
THORChain is the world's first cross chain decentralized exchange. It's been operating for over 5 years now.
Before, the only scalable way to trade between Bitcoin and Ethereum was going through a centralized exchange.
Atomic swaps were available, however they can't scale. Bridges and wrapped tokens were used, but they introduced counterparty risk. There wasn't a proper DEX to swap Bitcoin in a self custody wallet for Ethereum in a self custody wallet.
Vitalik Buterin highlighted this problem back in March 2020, expressing his frustration that there wasn't an easy way to move between Bitcoin and Ethereum without relying on centralized exchanges.
THORChain was built to solve this problem.
THORChain was designed like Bitcoin and Ethereum, to be permissionless, censorship-resistant, and public. All transactions on THORChain are transparent, there is no obfuscation. When Monero starts trading, XMR swaps will have all the same public data as BTC and ETH swaps.
It remains the closest example of a decentralized BTC-to-ETH exchange described by Vitalik.
We believe THORChain is one of the most decentralized blockchains in crypto.
According to a Raynalytics dashboard, the network has 111 active nodes operated by 56 unique node operators. 20 operators control just over two-thirds of the active nodes.
There is no single developer or entity in control of THORChain.
Core developers can make recommendations and write code to update the protocol, but nodes ultimately decide whether to adopt those changes. Protocol upgrades depend on sufficient support from the validator set, meaning developers cannot unilaterally impose changes on the network.
The decentralization and product market fit of THORChain make it a core piece of DeFi.
Theorycraft⚡️⚒ 🛡 retweeted
THORChain is a natural iteration on the great invention of Bitcoin
Bitcoin is a decentralised, permissionless asset
THORChain is a decentralised, permissionless exchange
No wrapped assets. No custodians. Native in, native out.
Thorchain is the liquidity highway that connects all chains.
$RUNE ⚡️
Theorycraft⚡️⚒ 🛡 retweeted
"Anakin, we had to redact the client list. It's a national security issue"
Theorycraft⚡️⚒ 🛡 retweeted
"I'm sorry Anakin. The Tusken Raiders that killed your mother aren't fit to stand trial. Their midichlorian counts are too low."
Theorycraft⚡️⚒ 🛡 retweeted
“Commander Cody, the time has come. Execute Order 66. Remove all women from their adult daycare jobs.”
“It will be done, my Lord.”
Theorycraft⚡️⚒ 🛡 retweeted
“You were the chosen one, Anakin! The one who would just keep paying for our social security checks while knowing full well you’d never see a dime of it yourself!”
Theorycraft⚡️⚒ 🛡 retweeted
"Is it possible to achieve 100 million mass deportations?"
"Not as a Jedi."
Theorycraft⚡️⚒ 🛡 retweeted
shoutout to the @THORChain lads
always early, never late
BREAKING: Chinese illicit actors laundering funds from the $387M Bitget exploit on behalf of the alleged DPRK attackers are openly asking for support with orders in public Discord servers and Telegram channels of services they use.
Notably, Alias 4 (below) was also seen laundering funds from the Kelp DAO $292M exploit earlier this year.
I've observed the same pattern after multiple TraderTraitor attributed exploits, and I've closely tracked these groups. I plan to share more of my data on them in coming weeks.
Currently, funds are being chain-hopped via bridges and being deposited into mixing services such as Wasabi.
Alias 1 - Cc
Discord: cc02006
Discord ID: 1351486674386948148
Txn: F08657EFAEAE7B58217CD17A22BF4779582E5D080C2E92E173BC239A5D828363
Alias 2 - jack
Discord: jack_34808
Discord ID: 1553705721768714377
Txn: 68583D313A0CCC99F2702D61D05A242A69C86CAE09ED252B65F34B677C377F69
Alias 3 - Melon
Discord: under0346
Discord ID: 1394240539108573215
Txn 1: ABE2AEF8B10057E60F8259CA2CA2CD5D71D38D254960FEEE89CB3C95A964873F
Txn 2: 7BE290865901DEB1680A6D692A11392D1FDDACA0D31C48F26DCB249F2444BD6B
Alias 4 - lolo / Marin
TG: pvpcz
TGID: 6223514198
Discord: losern
Discord ID: 1024415186527985704
Txn: 8E935C19D00F40639B78BF1FD094FE48C92118F3E586AB52DF93851080CCCE15
Alias 5 - HELP ME
Discord: helpme031897
Discord ID: 1554035533817188384
Txn: 7C58CAD760EBBED54F2CA4D2146D056910B7B6688B4F524396DC8807353C2379
Theorycraft⚡️⚒ 🛡 retweeted
Hackers and hacking are a major issue in crypto. It's been holding crypto back since Mt. Gox. Here is the order of blame when a hack occurs:
1. The hackers. Obviously theft is immoral: 50% blame
2. The exchange that got hacked: The buck stops with the CEO. Secure your shit. 49% blame
3. The user for not self-custodying: But the exchange makes a promise when accepting user funds, so blame is small. 1% blame.
Entities with no blame:
1. Censorship-resistant protocols
To think otherwise is ridiculous. The whole point of crypto is censorship-resistance. Get with the program or get out.
Gracy Chen's exchange just lost hundreds of millions of dollars of customer funds. Her response is a campaign to assign responsibility to THORChain — infrastructure that worked exactly as designed.
The vault failed. The rails did not. Blaming the rails is what you do when you cannot explain the vault.
And censorship resistance is not "a design choice." It is the only property that makes crypto worth building. Everything else is a bank with worse UX.
