THORSwap Continues with New Rules After Transactions Linked to FTX Hacker

THORSwap had gone into maintenance mode after detecting potential illegal fund movements. The platform announced on October 11 that it had reactivated its service by updating its terms of service. However, with the updated terms, users in some sanctioned countries were banned from using THORSwap’s services.

Last week, THORChain-based THORSwap was put into “maintenance mode” after detecting potential illegal fund movements. It was believed that the reason for this action was a transfer made by a person known as the “FTX hacker,” who had carried out an attack on FTX for $470 million.

Details; THORSwap Halts Platform Due to Trades Linked to the FTX Hacker

Transactions Can Resume

THORSwap announced today that there is no problem for users to continue with regular swap transactions with over 5,500 assets found on 10 blockchains. The exchange has resumed operations.

Still Unavailable in More Than 10 Countries with Updated Terms

With the service terms updated on October 11, THORSwap excluded users from countries sanctioned by the United States, the United Kingdom, and the European Union from its platform. The new terms require users to comply with existing laws such as Anti-Money Laundering and not engage in sanctions violations or other illegal financial activities.

Among the sanctioned countries are Belarus, Myanmar, Ivory Coast, Cuba, the Democratic Republic of Congo, Iran, Iraq, Liberia, North Korea, Sudan, Syria, and Zimbabwe. THORSwap updated its terms of service to avoid serving users in these countries.

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