THORChain Refuses to Freeze Hacker Wallets Amid $387M Bitget Breach

Bitget suffered a significant security breach on September 24, resulting in losses of approximately $387.5 million. In response, CEO Gracy Chen appealed to THORChain, requesting that they freeze the attacker's wallets. However, THORChain declined this request, citing their policy of neutrality similar to Bitcoin and Ethereum networks.

THORChain operates as a permissionless cross-chain liquidity protocol, enabling cryptocurrency exchanges without centralized intermediaries. The platform requires no identity verification or formal registration processes. In contrast to Bitget's call for intervention, THORChain emphasized that they do not implement selective address restrictions.

The wallet addresses connected to the security breach have been identified and are under continuous monitoring by blockchain security analysts. Bitget has announced a $464 million reserve fund to reimburse impacted users and has established a bounty program to reward information leading to asset recovery.