News
Public · Published
Thorchain Faces Heat as Bitget Hack Revives Bybit Controversy
After a hack took money from the centralized exchange Bitget, CEO Gracy Chen publicly asked Thorchain to deny service to addresses linked to the attacker. Thorchain pushed back, comparing the request to asking bitcoin miners to stop mining to thwart hackers.
Published:
Updated:
What happened
After a hack took money from the centralized exchange Bitget, CEO Gracy Chen publicly asked Thorchain to deny service to addresses linked to the attacker. Thorchain pushed back, comparing the request to asking bitcoin miners to stop mining to thwart hackers.
Confirmed
Global impact / market context
This clash shows how decentralized crypto projects, which run without a central owner, may resist requests to block stolen funds, while exchanges want help to freeze them. That tension can slow recovery for victims and shape how investors judge tokens tied to such networks.
Analyst inference
The Bitget hack, which means stolen funds were taken from a centralized exchange that holds user assets, has revived debate from the earlier Bybit controversy. Bitcoin is named as a known asset in the story, linking the dispute to crypto market attention.
Analyst inference
What to watch
- Thorchain likened the request to asking bitcoin miners to cease mining to thwart hackers. Watch whether it changes that position or refuses all such requests from exchanges. Confirmed
- Chen asked Thorchain to deny service to addresses linked to the attacker. Watch whether other exchanges make similar public requests to decentralized networks after future hacks. Proposed
- Investors may watch whether this public fight pushes exchanges to avoid tokens tied to services that refuse to block stolen funds, which could reduce trading demand. Analyst inference
Affected assets
- BTC — Bitcoin