Bitget CEO formally requests THORChain reject transactions from exploiter addresses tied to recent Bitget hack and prior $1.2B Bybit exploit routed through the protocol.
Security & Exploits ·
Bitget CEO Gracy Chen has formally requested that THORChain reject transactions originating from addresses linked to the recent Bitget security breach. The appeal follows a pattern of stolen funds flowing through the cross-chain protocol: on-chain tracking platform MistTrack documented nearly $1.2 billion in proceeds from an earlier Bybit exploit routed through THORChain for asset conversion and cross-chain movement, with funds from the Bitget incident now similarly transiting the protocol.
MistTrack, an arm of SlowMist, emphasized that the attacker addresses have been publicly identified and are under active industry surveillance. The platform contended that THORChain's continued facilitation of large-scale swaps involving known stolen assets raises questions about the protocol's responsibility, arguing that decentralization should not function as justification for processing flagged funds. Chen echoed this stance, characterizing decentralization as an architectural choice rather than a shield against enabling the movement of recognized stolen capital.
The core tension remains unresolved: how decentralized protocols should handle transactions tied to publicly documented exploits when the protocol's design principles may limit its ability or willingness to blacklist addresses. Whether THORChain will implement the requested filtering, and what precedent this may set for other cross-chain bridges, has not been determined.