THORChain refuses to block Bitget's stolen funds, despite pausing its own network after a previous hack
DeFi project THORChain has declined a formal request from Bitget to "refuse service" to addresses linked to the recent $380 million Bitget hack. Bitget CEO Gracy Chen and blockchain security firm SlowMist appealed to THORChain, citing patterns consistent with North Korean hacker organizations. THORChain stated it is "decentralized and permissionless," comparing itself to Bitcoin and Ethereum, and questioned if those networks would halt for stolen funds. This decision is seen as hypocritical by some, as THORChain validators previously halted trading for approximately $10 million after its own hack in May. THORChain clarified that its previous halt was to protect the protocol and it "doesn't censor by design." Following the Bitget hack, THORChain processed $678 million in two days, generating nearly $1.2 million in "gross system income."
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