🚨 The wallet linked to #Bitget ’s September 24 breach has moved approximately 2,390 $ETH into 75.2 $BTC through THORChain.
Key details:
🔄 27 swaps executed on Monday
💰 ~$6.3M in ETH converted
₿ BTC sent to a single receiving address
⚠️ Another 400 ETH was awaiting swaps at the time of review
Bitget CEO Gracy Chen asked #THORChain to block addresses linked to the attacker, but the network rejected the request.
THORChain says its emergency controls are designed to protect the protocol, not selectively freeze individual wallets.
The case highlights a major challenge for decentralized finance: transactions can be traced on-chain, but stopping them is much harder or even it is against their values.
So the question that was asked after the #bybit hack and it's being asked now :
Should decentralized protocols intervene when stolen funds are identified, or would that undermine their main objective & core values ? 👀
#BitgetDetailsSecurityIncidentTimeline #BitgetCEOConfirms$388MStolenInHack
Key details:
🔄 27 swaps executed on Monday
💰 ~$6.3M in ETH converted
₿ BTC sent to a single receiving address
⚠️ Another 400 ETH was awaiting swaps at the time of review
Bitget CEO Gracy Chen asked #THORChain to block addresses linked to the attacker, but the network rejected the request.
THORChain says its emergency controls are designed to protect the protocol, not selectively freeze individual wallets.
The case highlights a major challenge for decentralized finance: transactions can be traced on-chain, but stopping them is much harder or even it is against their values.
So the question that was asked after the #bybit hack and it's being asked now :
Should decentralized protocols intervene when stolen funds are identified, or would that undermine their main objective & core values ? 👀
#BitgetDetailsSecurityIncidentTimeline #BitgetCEOConfirms$388MStolenInHack
