Bitcoin maximalist Max Keizer has responded to the recent shutdown of the DeFi platform ThorSwap, which was initiated after the FTX hacker attempted to convert the stolen ETH through it.
The ThorSwap DeFi platform has been moved to maintenance mode after the hacker who stole millions of USD worth of crypto from the FTX exchange last November tried to convert some of the stolen ETH through it right after it went bankrupt.
The hacker stole millions of crypto from FTX and then converted it into approximately 180,000 ETH. As reported by U.Today on Friday, this operator managed to convert 76,636 ETH into tBTC via Threshold Network after ThorSwap halted operations to prevent the hacker from doing the same.
They still own about 110,000 ETH. Max Keizer believes that since a DeFi platform can be shut down to prevent such an illegal operation, it damages the reputation of the entire decentralized finance sector.
It seems like an obvious choice to remain formally decentralized and let hackers convert stolen funds or suspend operations on the platform to prevent bad actors from taking advantage.
Max Keizer has long been a supporter of Bitcoin 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 argues that all cryptos, aside from BTC, are unregistered securities.
Keizer has also sided with the SEC in the famous Ripple-SEC case, which has been ongoing since the end of December 2020. Recently, Ripple scored a major victory after the court ruled that its secondary market XRP sales do not qualify as securities.