ChainCatcher news, according to official sources, Threshold Network has announced the launch of a decentralized stablecoin pegged to the US dollar, Threshold USD (thUSD). This stablecoin is backed by Bitcoin and Ethereum, which differs from other stablecoins whose reserves may be opaque and often stored off-chain, allowing users and stakeholders to verify on-chain collateral in real-time.

ChainCatcher message, the privacy network Threshold Network stated on social media that last weekend, an unknown party conducted a DoS (Denial of Service) attack on the redemption process. A patch to fix the issue has been released, and node operators are installing the update. Currently, the remaining pending FTX Exploiter exchange transactions are expected to be unprocessable.Earlier reports indicated that the FTX Exploiter used Threshold Network to exchange 200 ETH for 11.6 tBTC.

ChainCatcher news, according to on-chain analyst Yu Jin's monitoring, the FTX attacker exchanged 200 ETH for 11.6 tBTC through the built-in Swap feature of Metamask one hour ago, and then bridged it back to the Bitcoin network via the Threshold Network.ChainCatcher previously reported that THORSwap, a cross-chain DEX aggregator based on THORChain, announced on its social platform that, given that illegal funds are using THORChain and THORSwap, after careful assessment of the situation and consultations with advisors, legal counsel, and law enforcement, the team has decided to temporarily switch the protocol to maintenance mode.

ChainCatcher news, according to official sources, the privacy protocol Threshold Network has announced that tBTC redemption has gone live on the mainnet. Bitcoin holders can transfer and use Bitcoin within the DeFi ecosystem through a scalable, decentralized solution without needing permission from anyone. Users can mint tBTC at any time and redeem it for native BTC.

ChainCatcher news, the privacy network Threshold Network announced the launch of the tBTC-based stablecoin thUSD. This stablecoin draws on the Liquity protocol mechanism to generate the dollar stablecoin thUSD using tBTC as collateral. Additionally, the protocol addresses liquidity issues through protocol-controlled value (PCV).It is reported that Threshold is a merger project between the privacy layer protocol Keep Network and the privacy infrastructure NuCypher. (source link)