THORChain Swap Volume Explodes as Stolen Funds Pass Through Network

THORChain's swap volume surged significantly in late September as funds stolen from Bitget moved through the network. The period of activity, which took place from Sept. 24 to Sept. 26, coincided with a sharp increase in swap activity and fees on the platform.

During this time, daily swap volume topped $500 million, while daily fees exceeded $800,000. This marks a substantial increase compared to August, where THORChain's total swap volume reached only $610 million. Fees also climbed sharply, with the network generating $2.2 million in fees through Sept. 26, versus $660,000 in August.

A similar spike occurred in April when funds stolen from KelpDAO moved through THORChain. This context provides insight into the latest surge in network activity and potential security concerns for users.