Bitget Seeks THORChain's Help in Recovering Stolen Funds

Bitget, a cryptocurrency exchange, suffered a massive breach on September 24, resulting in the theft of $387.5 million worth of various assets, including AVAX, BNB, ETH, TRX, USDT, USDC, XRP, and ZEC.

The hack is believed to be contained, with Bitget working closely with cybersecurity firms Mandiant and SlowMist to investigate the incident.

In a public plea, Bitget's CEO Gracy Chen has asked THORChain, a decentralized exchange (DEX), to halt transactions linked to the exploit. This request comes after Circle and Tether already intervened, stopping nearly $318,000 in stablecoin movement related to the hack.

The reason for targeting THORChain is its track record of allowing illicit activity to move through its platform. TRM Labs described THORChain as 'the bridge of choice' for laundering North Korea's largest heists, citing the roughly $1.5 billion Bybit hack in February 2025 and the nearly $300 million KelpDAO theft.