THORChain Refuses to Block Assets Linked to Bitget Hack

THORChain has declined to block assets associated with the $387.5 million Bitget hack, asserting that its permissionless nature is identical to that of Bitcoin, Ethereum, and BNB Chain. Bitget CEO Gracy Chen urged the protocol to intervene, arguing that decentralization should not facilitate the movement of stolen funds. Blockchain tracker MistTrack noted that similar patterns occurred during the $1.46 billion Bybit hack, where significant funds were traced through the platform. While critics like OKX founder Star Xu argue that THORChain's comparison to base blockchains is invalid—citing a previous instance where the network paused its own vault—THORChain maintains that it cannot monitor or restrict illicit flows.