THORChain records $3.01 million September income, 63% from Bitget hack surge

THORChain generated $3.01 million in income in September, its highest since March 2025, driven by a trading surge linked to the Bitget hack. Swap volume reached $2.40 billion, the most since June 2025. From September 25 to 29, approximately $1.37 billion, or 57% of the month's swap volume, flowed through THORChain, generating about $1.9 million in income, equivalent to 63% of the monthly total. THORChain noted that this surge coincided with funds related to the Bitget exploit moving through its network, with daily volumes ranging from $190 million to $460 million during that period. Despite the record activity, wallet data indicated that the revenue increase was due to large flows rather than a significant rise in user numbers, with active wallets increasing to 25,000 from 23,500 in August. September's income was nearly five times August's $615,000, while swap volume nearly quadrupled from $613 million. However, most of this activity occurred during the narrow window of hack-linked transactions. THORChain's trailing yield measures were inflated, with RUNE's seven-day annualized return reaching 69.03% on September 29. The challenge ahead is whether THORChain can maintain this momentum with regular trading activity.

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