🚨 BITGET HACK HUGE UPDATE 🤯 $351.6 million Bitget hacker is now swapping $ETH to $BTC through THORChain. THORChain has fully refused to help Bitget. Are they earning big fees from these swaps? This is a really serious issue which the crypto industry should talk about.

Makes sense, otherwise Thor chain will loose their face and their whole company 😅😂

😂 They have to think about the reputation and trust implications too

That is good these exchanges will never help you if you had issue , they get thier karma back

I’m not ignoring the concerns around the moving funds, but I’m also watching how Bitget handles the recovery from here. $BTC withdrawals going live as scheduled is at least a practical step in the right direction.

It's called decentralized, learn it. The issue is business need to improve security not impead decentralized chains.

This is disingenuous. @THORChain is a decentralized protocol with 99 nodes that must reach consensus to halt the protocol. They do not have the ability to block wallets, they would have to halt the entire protocol.

The big question is: Should decentralized protocols be responsible for stopping stolen funds or is censorship resistance the whole point?

THORChain actually cooked them with that response. You can't claim unpausable immutability like Bitcoin when you literally paused the network for 13 hours when your own vaults got hit.

the ETH to BTC swaps are definitely worth watching. But for we users, the key thing is withdrawals are already coming back in phases, BTC is resuming today and the rest follows the announced schedule.

$387M stolen, now flowing through THORChain swaps. They won’t block the wallets, who actually benefits here?

They can stop it. They just won’t.😅

Hacker routing $351M straight through THORChain without even bothering with Tornado Cash is insane.

Stop all this stupidity man. @THORChain can not stop it because they is no way to stop individual transactions without stopping the chain. So the question is why will they freeze thier business because bitget was careless enough not to protect thier funds?

CEXs losing $350M+ due to weak internal security and then demanding permissionless protocols act as their personal rollback insurance will never not be crazy to me.

The ETH to BTC movement through THORChain is seriously worth watching

THORchain is profiting from theft, while claiming to uphold permissionless cypherpunk ideals. #thorchain

The fee question is interesting but the available reports don’t establish how much THORChain earned from these specific swaps?? 🤔

The industry should talk about it

Crazy. Thorchain holds the ethos of cryptocurrencies and Dexes. Much respect to Thorchain. ONWARDS!

THORChain does not support censorship and blacklists. It is a fully decentralized project managed by more than 100 independent nodes. If you want to stop $btc, then call the 3 largest miners

Thorchain ile kimler anlaşmalı acaba?

They should just burn all the money send to Satoshi Wallet 👁👁

Arrest founder

side income 😜 shame on thor chain

why help bitget are the hackers

The funds moving around is definitely concerning, but Bitget is already tracking the wallets and working with other parties in the industry on recovery. The withdrawal schedule also gives users a clearer timeline, and BTC withdrawals have now started today as scheduled

$RUNE earning yield on $350M of forced hacker volume is a wild metric.

THORChain the space of money laundering.

Funny how they did same thing during Bybit's $1.5B hack last year. But bitget is already tracking the wallets and working with other exchanges to recover the funds. They have also made a schedule for withdrawals, with BTC starting today

Huge number

Why wouldn't they work on it and just figure everything out?

Maybe they should at least look into the transactions and see if anything can be done.

No it’s DEX

え、どうなったの？THORChainの反応が気になる！

THORChain staying neutral shows the true power of permissionless liquidity.

Where will these BTCs go now? To a CEX or OTC buyers?