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09/28/2026

THORChain Refuses to Block $387M Bitget Hack Addresses, Sparking Industry Debate

What happened: After Bitget suffered a $387.

THORChain Refuses to Block $387M Bitget Hack Addresses, Sparking Industry Debate

What happened: After Bitget suffered a $387.5 million hack on September 24, 2026, the exchange requested THORChain to deny service to addresses linked to the attacker, whom Bitget’s CEO attributed to DPRK’s Lazarus Group. THORChain declined, citing its permissionless design and the retirement of its admin key in early 2025, which limits its ability to censor transactions. In contrast, Circle and Tether froze over 318,000 USDT/USDC on related addresses. RUNE, THORChain’s native token, surged ~50% during the controversy.

Why it matters: The refusal underscores the tension between decentralization and regulatory or ethical expectations in DeFi. While some defend THORChain’s stance as principled, others argue it enables laundering of stolen funds. The episode echoes previous controversies, such as the $1.46B Bybit hack in 2025, and intensifies scrutiny on cross-chain protocols’ responsibilities in the wake of major exploits.

Source: Cointelegraph Magazine