THORChain Refuses to Block Hacked Wallets Amid $387.5M Bitget Heist
The exchange Bitget detected unauthorized transfers from its hot and warm wallet infrastructure on September 24, 2026, totaling approximately $387.5 million in stolen assets. The affected assets included XRP, ETH, USDT, USDC, BNB, AVAX, ZEC, and TRX across multiple networks.
Bitget CEO Gracy Chen publicly identified the attacker addresses and requested that THORChain refuse service to those wallets. However, THORChain declined, citing its decentralized and permissionless nature, comparable to Bitcoin, Ethereum, and BNB Chain.
The refusal reignited industry debate over selective intervention by cross-chain protocols and drew comparisons to THORChain's handling of funds from the February 2025 Bybit breach. The incident also highlighted the practical implications for users and protocols operating under a permissionless design.