THORChain Rejects Bitget's Hacker Block Request as $6M Moves to Bitcoin

THORChain has declined a request from cryptocurrency exchange Bitget to block a hacker responsible for a recent exploit, as approximately $6 million in stolen funds were moved into Bitcoin. The cross-chain liquidity protocol stated it cannot freeze or blacklist addresses, citing its decentralized architecture and lack of centralized control. Bitget had asked THORChain to intervene after the attacker used the protocol to swap stolen assets. The hacker converted the funds into BTC, making them harder to trace and recover. This incident highlights the ongoing tension between decentralized protocols and centralized exchanges seeking to combat crypto crime. THORChain's refusal underscores the challenges of enforcing blacklists in DeFi, where permissionless access is a core principle. The movement of $6 million into Bitcoin raises concerns about the growing sophistication of hackers exploiting cross-chain bridges and swap protocols. Bitget has not yet commented on the outcome, while THORChain maintains that its network remains neutral and censorship-resistant.