Bitget CEO Demands Thorchain Block Hackers After $387.5 Million Heist

Bitget's hack has grown in size to $387.5 million as CEO Gracy Chen asks Thorchain to block hackers. The exchange initially reported a loss of around $351 million, but the actual amount is now estimated at approximately $387.5 million. Hackers have been moving stolen funds through various rails, including Thorchain, which allows for swapping crypto assets across different blockchain networks.

Thorchain's decentralized nature makes it difficult to block specific addresses. In a similar situation after the Bybit hack, Thorchain faced pressure from the FBI to halt Ethereum trading, but its validators chose not to do so. This time around, Bitget is requesting that Thorchain refuse service to hacker-controlled addresses.