THORChain Refused to Block the $387M Bitget Hacker. Here’s Why | Chad Barraford
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THORChain declined a request from Bitget to block addresses tied to a $387.5 million hack, and weeks later Tether froze four THORChain vaults on Tron holding 1.45 million USDT before unfreezing them three hours later. The episode follows THORChain’s own $10.7 million loss in May linked to a GG20 flaw, underscoring the protocol’s insistence on permissionless, unstoppable infrastructure even when it complicates recovery efforts for exchange hacks. The dispute highlights the tension between decentralized protocol neutrality and the compliance expectations of centralized exchanges and stablecoin issuers.
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Named in this story
THORChain, Bitget, Tether, Chad Barraford, Tron