THORChain Faces Legal Action Over $200M Collapse Amid Alleged Mismanagement and Insolvency
New York, United states, May 19th, 2025, Chainwire
A group of creditors known as the THORFi Recovery Group is exploring potential legal proceedings against the blockchain-powered network THORChain and its principals.
On January 23, 2025, users of THORChain’s THORFi lending and savers programs lost over $200M. The potential lawsuit will seek to recover the lost digital assets. THORChain’s creditors may be able to join the lawsuit.
The THORFi Recovery Group is represented by McDermott Will & Emery, a FinTech and Blockchain law leader since 2013. The firm maintains the industry’s largest crypto exclusive team. They are ranked by Chambers, Law360, and the American Lawyer for crypto litigation.
McDermott is assisted by J.S. Held, a global consulting firm providing specialized forensic, investigative, and advisory services. The firm’s cryptocurrency practice is recognized for its blockchain tracing, asset recovery, and expert witness work in complex crypto fraud and insolvency cases. J.S. Held has supported litigation and recovery efforts in high-profile matters involving Celsius, Voyager, and other major crypto collapses, working alongside legal teams and trustees to trace stolen assets, prepare evidentiary reports, and provide testimony in court proceedings.
THORFi creditors can learn more about the lawsuit at https://www.THORChainLawsuit.com or contact via email: ThorFiRecoveryGroup@mwe.com.
About J.S. Held
J.S. Held is a global consulting firm that combines technical, scientific, financial, and strategic expertise to advise clients seeking to realize value and mitigate risk. Our professionals serve as trusted advisors to organizations facing high stakes matters demanding urgent attention, staunch integrity, proven experience, clear-cut analysis, and an understanding of both tangible and intangible assets.
J.S. Held, its affiliates and subsidiaries are not certified public accounting firm(s) and do not provide audit, attest, or any other public accounting services. J.S. Held, its affiliates and subsidiaries are not law firms and do not provide legal advice. Securities offered through PM Securities, LLC, d/b/a Phoenix IB, a part of J.S. Held, member FINRA/ SIPC, or Ocean Tomo Investment Group, LLC, a part of J.S. Held, member FINRA/ SIPC. All rights reserved.
