THORChain Refuses to Block Hacked Funds Amid Industry Outrage

THORChain has refused to block funds associated with Bitget, a centralized crypto exchange that was hacked for over $380 million last Thursday. The decision comes four months after THORChain halted trading following its own hack for approximately $10 million in May.

In the aftermath of the Bitget hack, Bitget CEO Gracy Chen called it 'highly consistent with known patterns of North Korean hacker organizations.'

THORChain compared itself to other decentralized networks like Bitcoin and Ethereum, asking if they would be expected to halt trading when stolen funds pass through them.

Notably, BNB Chain validators did indeed halt the chain following a $600 million hack in 2022, preventing the attacker from extracting most of the loot.