THORChain pushed back on Bitget CEO Gracy Chen’s request to refuse service to addresses linked to the exchange’s September 24 breach, defending its permissionless design. On September 28, a wallet associated with the attacker converted roughly 2,390 ETH worth about $6.3 million into 75.2 BTC through 27 swaps, with the stolen assets continuing to move into Bitcoin through THORChain.
A THORChain network halt is an emergency security mechanism designed to protect the protocol.
A halt is not a selective freeze of specific funds or an individual swap.
During the May 2026 exploit that resulted in $10.7M stolen from the liquidity pools, the attackers addresses… https://t.co/HrigTUbA4Q
— THORChain (@THORChain) September 28, 2026
Bitget has said approximately $387.5 million reached attacker-controlled addresses during the breach. THORChain compared its role to permissionless networks such as Bitcoin, Ethereum and BNB Chain when responding to the blocking request, while its public response did not announce a blacklist, network halt or change to transaction routing.
The immediate focus is how much more of the stolen crypto moves through cross-chain protocols as recovery efforts continue. Further transfers into Bitcoin could make asset tracing and recovery more complex, while Bitget continues coordinating with exchanges, blockchain projects and security firms around affected funds.
Source: THORChain.
Disclaimer: Crypto Economy Flash News are based on verified public and official sources. Their purpose is to provide fast, factual updates about relevant events in the crypto and blockchain ecosystem.
This information does not constitute financial advice or investment recommendation. Readers are encouraged to verify all details through official project channels before making any related decisions.
