DEFI SECTOR
THORSwap Resumes Operations with Enhanced Security Measures to Combat Illicit Funds Transfer
THORSwap, a decentralized exchange (DEX) leveraging the THORChain protocol, resumed operations on October 13, following a temporary shutdown to address concerns of illicit funds transfer. The platform has enhanced its security measures, updated its terms of service, and partnered with an industry leader to prevent the movement of illicit funds. Although the move was met with mixed reactions from the community, it underscores THORSwap's commitment to providing a secure trading environment amid rising regulatory pressures in the DeFi sector.
Curve Founder Michael Egorov Withdraws Near 12 Million CRV Tokens
Michael Egorov, the founder of Curve Finance, withdrew nearly 12 million CRV tokens, equivalent to $5.08 million, from the platform's vesting contracts on October 12, 2023. This move aligns with the vesting schedule of CRV, enabling Egorov to claim $235,000 worth of CRV daily.