AFX Trader Hacker Utilizes THORChain to Launder Stolen Funds

The recent AFX Trader exploit has taken another twist as the hacker behind the $24.15 million bridge hack moved a significant portion of stolen funds through the decentralized cross-chain liquidity protocol THORChain.

On July 23, the attacker swapped 655.4 ETH for approximately 18.86 BTC, according to blockchain analyst EmberCN.

This move was made possible by leveraging THORChain's ability to allow native cross-chain swaps without wrapping assets or relying on centralized intermediaries, making it harder for investigators to track and freeze funds.

AFX Trader proposed a white-hat negotiation to the attacker, offering them 30% of the stolen funds in exchange for returning the remaining 70%, approximately $7.24 million, to the protocol.