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Crypto

THORChain Stands by Decentralized Policy Amid Bitget Hack

Guavy AI Editorial Team
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Hackers stole $387.5 million from crypto exchange Bitget on September 24. Part of this money is being laundered through THORChain, which refuses to block it.

THORChain allows anyone to swap a coin on one blockchain for a coin on another without verifying their identity. Once the funds are converted into Bitcoin, no company can freeze them.

MistTrack, a blockchain tracker, noted that this has happened before. After the $1.46 billion Bybit hack last year, nearly $1.2 billion was reportedly traced through THORChain.

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