Bitcoin maximalist Max Keizer has commented on the recent shutdown of DeFi platform ThorSwap, which was initiated after the FTX hacker attempted to convert stolen ETH through it.
The ThorSwap DeFi platform was moved into maintenance mode once the hacker who stole millions of dollars in cryptocurrency from the FTX exchange last November, just after its bankruptcy, attempted to convert some of the stolen ETH through it.
The hacker stole millions of cryptocurrencies from FTX and then converted them into approximately 180,000 ETH. As reported by U.Today on Friday, this exploiter managed to convert 76,636 ETH into tBTC via the Threshold Network after ThorSwap stopped operations to not allow the hacker to do the same.
They still own around 110,000 ETH. Max Keizer believes that since a DeFi platform can be shut down to prevent this type of illegal operation, it ruins the reputation of the entire decentralized finance sector.
It seems like a simple choice between remaining formally decentralized and allowing hackers to convert stolen funds or suspending operations on the platform to prevent bad actors from profiting.
Max Keizer is a long-time Bitcoin advocate and claims that all other cryptocurrencies, including Ethereum, are a scam and should be banned. He supports the SEC’s crackdown on multiple crypto exchanges and Gary Gensler claims that all cryptos other than BTC are unregistered securities.
Keizer has also sided with the SEC in the famous Ripple-SEC case, which has been ongoing since late December 2020. Recently, Ripple scored a major victory after the court ruled that its secondary market sales of qualify as values.
