BitGet Hackers Use THORChain to Move Millions in Stolen Funds Across Chains

A massive security breach at BitGet has seen hackers use THORChain to move stolen funds across chains. About $6.3 million in ether was converted into 75.2 bitcoin through THORChain's native cross-chain infrastructure, allowing the attackers to bypass centralized exchanges.

Analysts have identified 27 successful swaps involving approximately 2,390 ETH, with the resulting bitcoin sent to a single address without using a conventional exchange that could potentially block deposits or withdrawals.

THORChain's permissionless architecture makes it difficult for exchanges like BitGet to intervene when funds are stolen. The protocol can halt broader network activity in emergency situations, but its controls do not allow selective address freezes.