Bitget Asks THORChain to Block Hack Funds Despite Protocol Rules
Bitget now estimates the Sept. 24 security incident involved approximately $387.5 million in assets, up from an initial $351.6 million estimate.
Bitget CEO Gracy Chen asked THORChain to reject transactions from addresses linked to the exchange’s Sept. 24 security incident, which Bitget now values at approximately $387.5 million.
Bitget said unauthorized transfers began at 2:31 p.m. ET (18:31 UTC) from some hot wallets. The exchange initially estimated the affected assets at $351.6 million, then raised the figure after adding assets held on Zcash and TRON. Bitget said the revised total reflects expanded accounting, not additional unauthorized transfers.
The affected assets include XRP, Ether (ETH), Tether (USDT), Zcash (ZEC), USD Coin (USDC), USDT0, Tether Gold (XAUt), BNB, Avalanche (AVAX) and TRON (TRX). Bitget also identified attacker-controlled addresses across EVM networks, the XRP Ledger, Zcash and TRON.
Chen said the addresses were publicly identified and urged THORChain to refuse them service. “Decentralization is a design principle, not a shield for facilitating known stolen funds,” she said.
The request runs into THORChain’s core design. The cross-chain swap protocol uses smart contracts, liquidity pools and independent node operators, while its terms say network behavior is governed by code, contracts and consensus rather than a central authority. Bitget said its User Protection Fund held more than $464 million when the incident was announced.
