Is THORChain private?

No. THORChain is a public network, and every swap shows its amounts and the addresses on both sides. A cross-chain swap even links your address on one chain to your address on the other, because the receiving address is written into the swap’s memo.

What a THORChain swap shows

  • The address that sent the coins and the amount, on the source chain.
  • The memo, which names the coin you want and the address that receives it.
  • The payout to that address on the destination chain, with the fees.
  • Every earlier and later transaction of both addresses.

Why it matters

THORChain itself asks for no account and no KYC, but each swap connects your two addresses in public. If either one is known, so is the other, along with both histories.

Coins held as secured assets and positions on Rujira sit on a THORChain address too, and anyone can look up its trades, loans and stakes.

In Redacted

Redacted adds privacy on top of THORChain. You deposit into the Reserve once, then swap, trade and borrow from a Spending account, so those actions have no visible tie to the wallet you deposited from.

Private cross-chain swaps →

Related terms

THORChainTHORChain is a network that swaps native coins across chains, such as Bitcoin for Ether, with no bridges and no wrapped tokens. The coins sit in vaults on their home chains, secured by about 100 independent node operators.Native cross-chain swapA native cross-chain swap trades a coin on one chain for a coin on another, for example Bitcoin for Ether, by moving the real coins between vaults instead of minting wrapped copies on a bridge.Secured assetsSecured assets are native coins deposited into THORChain’s vaults and held one to one on THORChain, such as BTC-BTC for Bitcoin. Apps use them for trading, lending and more, and they can be withdrawn back to their home chain as the real coin.Linked addressesLinked addresses are addresses that chain analysis attributes to the same owner, most often because they were spent together in one Bitcoin transaction. Once one of them is tied to a name, all of them are.The ReserveThe Reserve is the shared space where every Redacted user’s deposits live together as sealed notes. From the outside all notes look alike, so an action from the Reserve could have come from anyone who has the same coin in it.

Sources: Transaction memos, THORChain developer docs

Updated October 7, 2026. All terms