Thorchain Under Fire Over Stolen Bitget Funds Controversy

THORChain has come under fire for its handling of stolen funds from the Bitget exchange hack. CEO Gracy Chen called on THORChain to block the addresses linked to the attack, citing that decentralization is not a shield for facilitating known stolen funds. However, THORChain politely declined, sparking a debate over whether they can or should comply with Chen's request.

Decentralization maxis like Joel Valenzuela argue that doing so would undermine crypto's cypherpunk ethos and set a precedent for censorship. THORChain, however, is not as decentralized as Bitcoin or Ethereum, having quickly paused its chain when it was hacked itself in May for $10.7 million.

Cybersecurity expert Tay Vano criticized THORChain, saying that it's 'like 5 retards in a discord coordinating secret updates' and accused the platform of profiting from stolen funds. The company's native token, RUNE, has surged 50% in a week, possibly due to the controversy.