Decentralized exchange THORSwap has resumed operations after temporarily shutting down due to the detection of illicit funds on its platform. The exchange announced on Oct. 12 that it is back online and urged users to continue swapping assets across various blockchains using their own self-custody wallets. THORSwap initially halted swaps on Oct. 6 to address the issue of illicit use and find a permanent solution. The platform has made minimal changes, primarily updating its terms of service to include compliance with applicable laws and the ability to restrict access for violations. However, the cryptocurrency community has expressed concerns about the platform’s decentralized status in light of these changes. THORSwap clarified that it is a centralized company operating on the decentralized THORChain network. Additionally, the exchange has partnered with an industry leader to implement additional measures to prevent the flow of illicit funds. THORSwap’s return coincided with the news that the hacker responsible for the now-defunct crypto exchange FTX had started moving the stolen funds. The hacker reportedly used THORSwap to convert Ether into Bitcoin before sending the crypto to sanctioned cryptocurrency mixers. THORSwap emphasized that the FTX exploiter’s funds can be traced until they are swapped to Bitcoin, after which they become untraceable.

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Information	Details
Geography	Global
Countries
Sentiment	neutral
Relevance Score	1
People	Erik Voorhees
Companies	THORSwap, X, THORChain, FTX, ShapeShift, Sinbad, Cointelegraph, Elliptic, Anti-Money Laundering
Currencies	Ethereum, Bitcoin
Securities	None