THORChain vs NEAR: Permissionless Protocols Face Moral Dilemma

The recent hack of Bitget on September 24 led to $387.5 million in stolen funds being moved across chains, some of which ended up at THORChain.

THORChain's CEO Gracy Chen publicly asked the platform to refuse service to attacker-linked addresses, saying 'The industry is watching.'

However, THORChain refused, sparking a heated debate about whether protocols have a moral obligation to block stolen funds or if they should remain truly permissionless.

THORChain developer Boone Wheeler argued that a permissionless protocol cannot be blind to the provenance of funds and must allow all transactions, regardless of their origin.

In contrast, NEAR Intents, a competitor platform, took a different approach and intervened to block hack-linked funds using its automated security layer SHIELD.