# THORChain review: KYC policy, privacy and safety grades

> THORChain is a swap service. Its terms put it at KYC level 0 of 4: ID never required. NoKYC Score grades it 8.5/10 for privacy (excellent) and 5.9/10 for safety (fair). In its favour: no account needed, no email needed and no phone number. To watch: it has no publicly accountable operator. One incident is on record, the latest from 23 Jan 2025.

Source: NoKYC Score, "THORChain review", reviewed 22 Oct 2026, https://nokycscore.com/service/thorchain

## Key facts
- **Category:** Instant Swaps
- **KYC level:** 0 of 4: ID never required
- **Grades:** Privacy 8.5/10, Safety 5.9/10
- **Sign-up:** No account needed
- **Custody:** non-custodial
- **Fees:** Source-chain gas, outbound gas and a liquidity fee that varies with swap size and pool depth (per FAQ)
- **Incidents on record:** 1
- **Last reviewed:** 22 Oct 2026
- **Official website:** https://thorchain.org

## What it is
THORChain is a layer-1 network whose node operators hold native assets in decentralised vaults so that users can swap between chains from their own wallets or by sending to a deposit address; the official interface is at swap.thorchain.org. The site terms say no single company or legal entity owns or operates the protocol, that the services are non-custodial, and that no KYC is needed. The terms exclude sanctioned persons and jurisdictions and reserve the right to restrict access to the website by jurisdiction, while the FAQ says the protocol itself has no geographic restrictions and that third-party interfaces may set their own requirements. The homepage lists Monero among supported chains; the FAQ asset list does not.

## What the terms say about ID
Terms section 2.4: "There is no KYC needed to use the Services. We will never ask for a picture ID, phone number, or home address."

## Features and warnings
- **Identity:** ID never required: yes; No account needed: yes; No email needed: yes; No phone number: yes
- **Payment:** Accepts Monero: not stated; Accepts Lightning: not stated
- **Access:** Tor onion address: not stated; Works without JavaScript: not stated
- **Trust:** Never holds your funds: yes; Own liquidity: not stated; Refund without ID: not stated; Open source: yes; Independent audit: not stated; Company named: no; 5+ years operating: not stated
- **Warnings:** May ask for ID: not in terms; Screens deposits: not in terms; Passes orders to partners: not in terms; Holds your funds: not in terms; Email required: not in terms; Phone number required: not in terms; Closed source: not in terms; Nobody accountable: yes

## Incidents on record
- 23 Jan 2025: THORFi savings and lending feature defaulted; debts converted to a new token (outcome: funds lost). Source: https://thorchain.org/faq

## Questions
### Does THORChain require KYC?
THORChain is rated KYC level 0 of 4 on this site: ID never required. Terms section 2.4: "There is no KYC needed to use the Services. We will never ask for a picture ID, phone number, or home address."

### Is THORChain safe to use?
THORChain has a Safety grade of 5.9 out of 10 and a Privacy grade of 8.5 out of 10. There is 1 incident on record, listed with sources on this page. Evidence level: documentation reviewed.

### Is THORChain legit?
THORChain is a working swap service. Its operators do not publish a company or names, so nobody is publicly accountable for it. Being real is not the same as being safe: its Safety grade here is 5.9 out of 10, built from custody, liquidity, track record and incidents.

### Is THORChain a scam?
NoKYC Score does not label services as scams; it records documented incidents with their sources and outcomes. THORChain has 1 incident on record, 1 not resolved, the latest: "THORFi savings and lending feature defaulted; debts converted to a new token". Each is listed on this page with its source.

### Do I need an account or email to use THORChain?
No account needed.

### What fees does THORChain charge?
Source-chain gas, outbound gas and a liquidity fee that varies with swap size and pool depth (per FAQ). Fees were recorded from THORChain's own pages and can change; check before you send.

### Does THORChain have a Tor onion address?
No official onion address was found on THORChain's own pages.

### Which cryptocurrencies does THORChain support?
THORChain supports BTC, ETH, LTC, BCH, DOGE, ZEC, SOL, RUNE.

### Is THORChain custodial?
No. THORChain is non-custodial: the operator does not control user funds.

### Can I use THORChain over Tor?
THORChain does not publish an official onion address.

## Sources
- https://thorchain.org
- https://thorchain.org/terms-of-use
- https://thorchain.org/faq
- https://swap.thorchain.org

How grades are calculated: https://nokycscore.com/methodology