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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
09/29/2026

THORChain Refuses Bitget's Request to Blacklist Hacker, $6M Laundered to Bitcoin

What happened: After a $387.

THORChain Refuses Bitget's Request to Blacklist Hacker, $6M Laundered to Bitcoin

What happened: After a $387.5 million hack on Bitget, the exchange's CEO Gracy Chen formally asked THORChain to block addresses linked to the attacker. THORChain rejected the request, citing protocol neutrality and technical limitations, while 27 swaps moved approximately 2,390 ETH (about $6.3 million) into 75.2 BTC, all sent to a single address. Bitget has attributed the attack to North Korea-linked groups, though formal attribution is pending.

Why it matters: The incident highlights the tension between decentralization and compliance, as THORChain's refusal to implement address-level censorship draws both principled defense and reputational criticism. With similar laundering patterns seen in prior hacks, the episode underscores the persistent challenge of cross-chain laundering and the limitations of emergency controls in decentralized protocols.

Source: CoinDesk