News - Decentralized exchange Thorswap paused for now

By Luc Vesters

Decentralized exchange Thorswap paused for now

Scams, crime and fraud

Thorchain has put the decentralized exchange Thorswap "temporarily in maintenance mode." Recently, there would have been a significant increase in illegal financial transactions.

"This action has been taken to quickly stop further potential illegal activity," the developers said. Thorswap "takes a strong stand against all criminal activity."

It is still unclear when the service will be available again. "Thorswap will remain in this mode until a permanent and robust solution can be implemented to continue to ensure the security and integrity of the platform," it continued.

Tokens can be moved between multiple blockchains via Thorswap. Seven billion US dollars has now been laundered through this type of cross-chain transaction, according to a new report from Elliptic.

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