Bitget CEO Urges THORChain to Block Hacker's Funds Amid $1.2 Billion Stolen

Bitget CEO Gracy Chen has urged THORChain to refuse service to an attacker's address linked to the recent major hack and security incident. According to Chen, about $1.2 billion in stolen funds from the earlier Bybit hack passed through THORChain during cross-chain transfers.

Chen expressed concerns that continued support by THORChain for known stolen funds and large cross-chain swaps could have negative implications for the broader industry. The Bitget CEO emphasized that decentralization is a design principle, not a shield for facilitating the movement of known stolen funds.

THORChain's actions in handling known stolen funds raises questions about its responsibility, Chen said. The industry should consider whether THORChain can still be described as decentralized if it continues to assist hackers despite being aware of these circumstances.