The post THORChain’s $618,000 Live Swap Puts Blockchain Transparency to the Test appeared on BitcoinEthereumNews.com.

TLDR: A single $618,000 BTC-to-USDC swap on THORChain exposed every transaction detail to the public in real time. GemWallet’s 50 basis point fee was written directly into the transaction memo, visible on-chain to anyone worldwide. THORChain allows users to swap assets without creating an account, submitting an ID, or seeking any permission. Every swap ever executed on THORChain remains permanently traceable, dating all the way back to its first transaction. THORChain recently showcased blockchain transparency through a live transaction on its network. A user swapped 8.99 BTC, worth roughly $67,393, for 611,637 USDC in under 17 minutes. The swap totaled approximately $618,000 moving across chains. Every detail of this trade remained publicly visible to anyone with an internet connection. What the Transaction Revealed About On-Chain Visibility THORChain shared the transaction publicly, noting that every detail was traceable without any permission required. The sending wallet address, destination address, exact amounts, fees, and processing time were all recorded permanently on a public blockchain. No compliance department or regulatory body controls access to this data. The transaction memo also showed that GemWallet processed the swap and charged 50 basis points as a service fee. That fee was written directly into the transaction instructions, not buried in a terms of service document. Anyone on earth could verify this at the moment it happened. THORChain posted about the event, stating: “There is no compliance department to call, no freedom of information request to file, no company deciding what data you are allowed to see.” People talk about blockchain transparency as an abstract concept, but rarely show what it actually looks like in practice. So let us walk you through a real transaction happening on THORChain. Someone just swapped 8.99 $BTC for 611,637 $USDC, around $618,000 moving across… pic.twitter.com/McqtXqktYu — THORChain (@THORChain) February 22, 2026 This…

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Filed under: News - @ February 22, 2026 9:22 pm