​​THORChain declines to block assets linked to Bitget hackers

Hackers stole $387.5M from crypto exchange #Bitget on September 24, with some of the funds now being converted into #Bitcoin via #THORChain, which has declined to block the transactions. THORChain allows users to swap assets across blockchains without identity checks. Once the stolen funds are converted into Bitcoin, they cannot be frozen by a centralized entity.

THORChain defended its permissionless model, saying it is open to anyone, like Bitcoin, #Ethereum, and #BNBChain. It argued that this raises broader questions about whether base-layer blockchains should be responsible for handling known stolen funds, rather than placing that responsibility solely on THORChain.

👉 finance.yahoo.com/markets/crypto/articles/thorchain-refuses-block-assets-tied-122333334.html?guccounter=1

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