Thorchain Faces Backlash Over Refusal to Block Stolen Funds

Following the $387.5 million hack of Bitget on September 24, CEO Gracy Chen asked Thorchain to block addresses linked to the attacker.

However, Thorchain responded by likening this request to asking Bitcoin miners to cease mining in an effort to thwart hackers, something that would never happen.

Notably, several key opinion leaders (KOLs) have entered the fray, with some insisting that Thorchain take precisely that action.

The controversy surrounding Thorchain has been revived as a result of the hack, particularly given its previous involvement in facilitating $1.2 billion in stolen funds following Bybit's 2025 hack.

Some KOLs have argued that Thorchain isn't truly decentralized, citing its ability to pause the network when its own vaults were drained in May and kept it offline for 13 hours.