THORChain won't block addresses linked to the $388M Bitget hacker.
THORChain to refuse service to the attacker’s identified wallets as the stolen funds continue moving across chains. THORChain says its emergency controls can halt network activity, but it does not have a system for selectively freezing individual addresses or swaps.
This matters because around $387.5M in assets were transferred to attacker-controlled addresses, according to Bitget’s latest accounting. Bitget says the vulnerability has been identified and remediated, while Mandiant and SlowMist are still supporting the investigation. It has also launched a recovery bounty covering eligible efforts to freeze or recover the funds.
For users, the other important update is that Bitget has started restoring withdrawals in phases. $BTC withdrawals opened today, with $ETH scheduled for September 29, USDT on September 30, and other assets, fiat and P2P services on October 2, subject to security checks.
As a #Bitget user, I’m staying. The incident is obviously something to take seriously, but Bitget has kept users updated, says account balances were unaffected, its Protection Fund holds over $464M, and cold wallets were not compromised.
The THORChain situation also shows one of the harder questions in crypto: where does decentralization end and responsibility for known stolen funds begin?
#CMC Quest: Earn Rewards#
THORChain to refuse service to the attacker’s identified wallets as the stolen funds continue moving across chains. THORChain says its emergency controls can halt network activity, but it does not have a system for selectively freezing individual addresses or swaps.
This matters because around $387.5M in assets were transferred to attacker-controlled addresses, according to Bitget’s latest accounting. Bitget says the vulnerability has been identified and remediated, while Mandiant and SlowMist are still supporting the investigation. It has also launched a recovery bounty covering eligible efforts to freeze or recover the funds.
For users, the other important update is that Bitget has started restoring withdrawals in phases. $BTC withdrawals opened today, with $ETH scheduled for September 29, USDT on September 30, and other assets, fiat and P2P services on October 2, subject to security checks.
As a #Bitget user, I’m staying. The incident is obviously something to take seriously, but Bitget has kept users updated, says account balances were unaffected, its Protection Fund holds over $464M, and cold wallets were not compromised.
The THORChain situation also shows one of the harder questions in crypto: where does decentralization end and responsibility for known stolen funds begin?
#CMC Quest: Earn Rewards#
