THORChain refused Bitget's request after $388 million loss, hacker swapped $6.3 million
After Bitget lost $388 million from its network, THORChain refused Bitget's request to block the hacker's addresses, letting transactions go through as usual.
The hacker swapped about $6.3 million in ether to bitcoin using THORChain, sparking fresh worries about how decentralized platforms can be used to move stolen funds.
THORChain rejects freezes and blocklists
THORChain defends its policy of allowing anyone to use the network and rejecting selective freezes and blocklists, though it does have emergency shutdown controls for major threats (like when it paused operations during a exploit in May).
Bitget is still tracking the stolen assets and even offered a 5% bounty for their return.
This whole episode has kicked off a bigger debate: should decentralized platforms ever step in when hacks happen, or stay totally neutral?