Bitget CEO Criticizes THORChain for Inconsistent Stance on Security Breaches

Bitget CEO Gracy Chen has publicly challenged THORChain's refusal to block addresses linked to a $387.5 million hack on Bitget, which occurred on September 24. While THORChain cited its permissionless, decentralized nature as the reason for denying the request, Chen pointed to a 39-day operational halt the protocol implemented during its own $10.7 million exploit in May 2026 as evidence of inconsistency. Despite the ongoing controversy, the attacker has continued to use THORChain's infrastructure to swap stolen assets, including approximately $6.3 million in ETH for BTC. Chen has suggested potential links to North Korean cyber operations, though investigations are ongoing.