THORChain is not a mixer
THORChain is a decentralized swap protocol, so some say it’s unfair to call it a laundering machine, as the output is traceable. It’s not like a mixer, whose purpose is to conceal cryptocurrency fund trails — though the reasons for using mixers vary between users, with some simply wanting to preserve their privacy and others using them for illicit purposes.
Federico Paesano, investigations lead at Crystal Intelligence, argued in a LinkedIn post that it is misleading to state that the North Korean hackers “laundered” the Bybit hack proceeds.