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XRP THORChain rejects Bitget's request to block hacker wallets: The decentralized protocol does not have authority control
THORChain rejects Bitget's formal request to block the wallet addresses that were behind the exchange's approximately $387.5 million theft. THORChain said its protocol is decentralized and non-permission-free.
The security breach occurred on September 25 and was initially estimated at approximately US$352 million in losses, which later increased to approximately US$387.5 million. Bitget CEO Gracy Chen pointed out in an incident update that the stolen assets include Ethereum (ETH), Ripple (XRP), BNB, AVAX and stablecoins, involving multiple networks such as Ethereum, XRP Ledger, Arbitrum, Avalanche, Optimism, BNB Chain and Base. Among them, XRP has the largest single chain loss, and all cold wallets are confirmed to be safe.
Bitget pointed out that the attack method is highly consistent with the known criminal pattern of North Korean hacker organizations. Several security agencies believe that this attribution is extremely likely, but the official has not yet confirmed it.
While tracking the flow of funds, blockchain security company GoPlus Security found that approximately 101.5 BTC (worth approximately US$8.5 million) and approximately 27.63 million XRP (worth approximately US$43 million) were transferred through THORChain during the incident.
Requests and Rejections
On September 26, Chen Yuqing posted on Platform X, formally requesting that the agreement refuse to provide services for attacker addresses, saying that these addresses had been publicly listed and were actively monitored. "Decentralization is a design principle and should not be a shield for assisting known stolen funds." She wrote.
On the same day, THORChain responded on the X platform, saying that it was deeply saddened to learn that the vulnerability had been exploited, but would not freeze funds. "THORChain, like Bitcoin, Ethereum and BNB Chain, is decentralized and permission-free. What responsibilities should Bitcoin, Ethereum and BNB Chain bear when handling known stolen funds?" asked in the post.
Suspension does not mean freezing
This refusal immediately triggered strong opposition from fund trackers. MistTrack, the money-tracking arm of security firm SlowMist, said decentralization cannot be an unconditional excuse when known stolen funds are involved. ByBit CEO Ben Zhou reported in March 2025 that of the $1.4 billion hacking attack on the exchange in February of the same year, approximately $900 million of ether (72% of the total) was transferred through THORChain.
该协议的支持者反驳称，阻止特定交易将损害其中立性，并使验证者沦为合规官员。在 9 月 28 日的后续帖子中，THORChain 强调，网络暂停是一种旨在保护协议的安全紧急机制，而非针对特定资金或个体互换行为的选择性冻结。它指出，当协议在 2026 年 5 月因漏洞损失 1070 万美元时，攻击者地址从未被列入黑名单，也从未被阻止进行互换操作。
