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Thorchain, the interoperability-focused decentralized exchange protocol, is losing key developers as internal disagreements escalate over how to handle illicit funds flowing through the network. The issue gained urgency after reports confirmed that North Korea’s Lazarus Group has been using the protocol to launder Ethereum (ETH) stolen in the recent Bybit hack. Developers Look to Quit Over Failure to Block Illicit Funds Pluto, a core Thorchain developer, announced his resignation on February 27th, citing frustration over the network’s inability to block sanctioned transactions. Another developer, known as TCB, has also indicated he may step away unless immediate action is taken to prevent North Korean hackers from using the platform. A temporary vote to halt ETH trading was quickly reversed which raised concerns about governance and control within the protocol. In a post on X, TCB criticized Thorchain’s claims of decentralization and argued that the network is largely controlled by a small group of infrastructure providers and corporate actors. He pointed out that while Thorchain promotes itself as censorship-resistant, many wallet providers that integrate with the protocol already enforce transaction filtering. Thorchain’s Decentralization Claims in Question Unlike Bitcoin or Ethereum, which have thousands of independent validators, Thorchain has a smaller, more centralized validator set. TCB argues that this structure makes it vulnerable to regulatory pressure and enforcement actions. Some developers have previously suggested changes to improve decentralization, such as introducing lighter node implementations, but these efforts have not been widely adopted. The situation places Thorchain at risk of further disruptions. If wallet providers and infrastructure partners step away, the protocol could face liquidity issues. Meanwhile, law enforcement agencies, including the FBI, are increasing their focus on Lazarus Group’s laundering methods, which, in turn, could bring additional scrutiny to Thorchain. The departure of key developers raises questions about the project’s future. If it continues to allow illicit transactions, regulatory action could follow. If it enforces restrictions, it may alienate users who prioritize decentralization. “For those that hate me for speaking out against the cult, don’t worry there is a good possibility this is one of the last time I ever speak publicly about Thorchain. When the huge majority of your flows are stolen funds from north korea for the biggest money heist in human history, it will becomes a national security issue, this isn’t a game anymore.” The post Internal Conflict at Thorchain as North Korean Hackers Leverage Network for Crypto Laundering appeared first on CryptoPotato.

TL;DR Ronaldinho alerted the crypto community about fake meme coins using his name, denying any official token launch. The football icon’s past alleged involvement in the “18kRonaldinho” crypto scam, which supposedly defrauded investors of over $60 million, adds skepticism to his latest announcement. ‘Keep an Eye for Fake Meme Coins’ The meme coin sector has been one of the highlights of the last bull cycle in the cryptocurrency market. Contrary to their potential to chart impressive gains in a short period of time, though, these assets remain quite dangerous due to their dubious use cases and enhanced volatility. Interestingly, the latest warning on the matter came from the Brazilian football icon Ronaldo de Assis Moreira (better known as Ronaldinho). He used his official X account to alert people about fake meme coins with his name. The Ballon d’Or winner for 2005 claimed that he hasn’t launched any official tokens. At the same time, though, he hyped the community with incoming “big news:” “For the entire crypto community: stay tuned because very soon we will have big news here!” His disclosure triggered mixed reactions from some well-known names in the industry. The popular analyst Michael van de Poppe suggested that the “big news” could be that Ronalndinho had purchased Bitcoin (BTC) instead of introducing his own meme coin. Others assumed that the former football player would launch a disputable, extremely centralized project that would eventually scam millions of people. The crypto community has witnessed the birth of countless celebrity-endorsed meme coins in the past several months, many of which have disappointed investors sooner or later. Some examples include Official Trump (TRUMP), Daddy Tate (DADDY), Mother Iggy (MOTHER), and others. Ronaldinho’s Previous Crypto Affairs The Brazilian is not a newbie in the cryptocurrency industry, jumping on the bandwagon approximately three years ago. Back then, he shook hands with Graph Blockchain’s subsidiary, New World Inc., to become an ambassador of the organization and introduce NFT experiences to his numerous fans. A year later, the Brazilian authorities launched an investigation against Ronaldinho for his alleged involvement in a crypto scam called “18kRonaldinho” that pocketed over $60 million from victims. The football legend denied any partnership with the entity, claiming his image was used without authorization. He maintained that he was also a victim of the scheme. The post This Football Legend Issues a Critical Warning Regarding Fake Meme Coins: Details appeared first on CryptoPotato.

Bitcoin (BTC) has fallen below the $80,000 mark for the first time in almost four months, and market analysts believe the crypto asset could witness more bloodshed over the weekend. Such were the words of Arthur Hayes, the co-founder and former CEO of the crypto exchange and derivative trading platform BitMEX, in an X post. Hayes believes BTC could experience more significant declines below $80,000 before Monday. Incoming Violent Wave For BTC According to Hayes, BTC is recording more declines in this current wave. The crypto entrepreneur revealed that he was tempted to add more risk to his holdings on Friday morning; however, upon further analysis of bitcoin’s price action, he figured that the cryptocurrency could see one more violent wave below $80,000. Hayes said that after the violent wave, which would most likely occur over the weekend, there would be “crickets for a while,” meaning that BTC would consolidate and trade range-bound for some time. “Hold onto your butts,” Hayes said, urging market participants to hang on as the ride is about to get rougher. In the last 24 hours, BTC has fallen by roughly 10%. Data from CoinMarketCap shows that the asset has a 24-hour high of $87,000 and a low of $78,344. The digital currency was trading at $79,800 at the time of writing, with frequent price changes within seconds. Going by Hayes’ prediction, BTC could plummet to $70,000 or even further within the next 72 hours. Over $932M in Liquidations With BTC at $78K Bitcoin’s current condition aligns with a prediction Hayes made a month ago. CryptoPotato reported that the BitMEX co-founder forecasted a turbulent path that would see the asset tumble to between $70,000 and $75,000. He said a mini-financial crisis would trigger the turbulence. At the time, BTC was trading at around $98,000. However, Hayes has maintained a bullish stance on Bitcoin’s long-term outlook, stating that the Federal Reserve’s resumption of money printing would push the cryptocurrency to $250,000 by the end of the year. Meanwhile, bitcoin’s price actions have wiped out almost all gains since the U.S. presidential elections. CoinGlass data shows that more than 227,000 traders have been liquidated in the last 24 hours, with the total liquidations surging above $932 million. The post Arthur Hayes Predicts More Declines For BTC: ‘Hold Onto Your Butts’ appeared first on CryptoPotato.

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Nearly 30% of the total crypto market value is gone in less than three months as traders saw little staying power for digital assets at sky high prices. 👋 Bitcoin Waves Goodbye to Trump Pump Bitcoin prices BTCUSD  were in a bad place late Wednesday but some signs of recovery surfaced by Thursday morning. The OG cryptocurrency dipped to a four-month low of $82,000 a piece, and yes, it wiped off all its post-election gains when euphoria around Trump’s presidency lifted the token to a record high. The brutal selloff was widespread with Ethereum ETHUSD  diving to $2,300 — a low not seen since mid-September. Ether is now down roughly 50% from its December high of $4,125 per token. 💸 $1 Trillion Wiped Off General market bearishness swept the crypto corner and erased a huge chunk of its valuation — we’re talking a trillion (with a T). More than $1 trillion has been washed out from the digital asset market from its ultimate peak of $3.8 trillion. Right now, the space is worth around $2.8 trillion. The lack of fresh news to stir the market and support the bullish narrative is driving traders and investors to seek safer, more predictable returns or simply sit out the uncertainty in the US dollar. 📢 Are Tariffs Driving the Selloff? President Donald Trump’s hostile tariffs — the most recent one a 25% hike on Europe — is threatening to cloud the growth outlook and throw global trade in a dark place where countries retaliate against each other and spark inflation growth. All this could potentially lead to a dent in consumer spending, shrink corporate earnings and bring back higher interest rates by the Federal Reserve . $BTC