Bitcoin maximalist Max Keizer has responded to the latest shutdown of the DeFi platform ThorSwap, which was initiated after the FTX hacker tried to transform the stolen ETH by way of it.
The ThorSwap DeFi platform has been moved to upkeep mode after the hacker who stole hundreds of thousands of USD value of crypto from the FTX trade final November tried to transform a number of the stolen ETH by way of it proper after it went bankrupt.
The hacker stole hundreds of thousands of crypto from FTX after which transformed it into roughly 180,000 ETH. As reported by U.At present on Friday, this operator managed to transform 76,636 ETH into tBTC by way of Threshold Community after ThorSwap halted operations to forestall the hacker from doing the identical.
They nonetheless personal about 110,000 ETH. Max Keizer believes that since a DeFi platform may be shut down to forestall such an unlawful operation, it damages the status of all the decentralized finance sector.
It looks as if an apparent selection to stay formally decentralized and let hackers convert stolen funds or droop operations on the platform to forestall unhealthy actors from taking benefit.
Max Keizer has lengthy been a supporter of Bitcoin and claims that every one different cryptocurrencies, together with Ethereum, are a rip-off and must be banned. He helps the SEC’s crackdown on a number of crypto exchanges and Gary Gensler argues that every one cryptos, other than BTC, are unregistered securities.
Keizer has additionally sided with the SEC within the well-known Ripple-SEC case, which has been ongoing for the reason that finish of December 2020. Lately, Ripple scored a significant victory after the courtroom dominated that its secondary market XRP gross sales don’t qualify as securities.