Misty Founder Yu Xuan points THORChain’s “double standards” very plainly:
The Bitget theft is a widely reported, public, large-scale, and clearly identified hacker incident. It quickly led to evidence of North Korean hacker funding trails. Circle, Tether, and others also promptly stepped in to freeze related funds—especially Circle, which froze the USDC held by the hackers.
But Yu Xuan also notes that when THORChain itself was hacked in the past, it intervened quickly. When major industry events happen, however, it emphasizes that it is “decentralized,” that it has no right to interfere, and continues to enjoy the transaction fees contributed by North Korean hackers through large cross-chain transfers.
In this kind of controversy, what really matters is: on one side is rapid coordination to freeze funds, and on the other is how to draw the boundary of “no right to interfere.” Which do you agree with more—handling risk first, or insisting on protocol neutrality?
Figure 1: Mist’s Yu Xuan questions THORChain’s double standards—intervening when it was hacked, but emphasizing “no right to interfere” for external events · Source page partial screenshot
Image source: https://www.theblockbeats.info/flash/369163
The Bitget theft is a widely reported, public, large-scale, and clearly identified hacker incident. It quickly led to evidence of North Korean hacker funding trails. Circle, Tether, and others also promptly stepped in to freeze related funds—especially Circle, which froze the USDC held by the hackers.
But Yu Xuan also notes that when THORChain itself was hacked in the past, it intervened quickly. When major industry events happen, however, it emphasizes that it is “decentralized,” that it has no right to interfere, and continues to enjoy the transaction fees contributed by North Korean hackers through large cross-chain transfers.
In this kind of controversy, what really matters is: on one side is rapid coordination to freeze funds, and on the other is how to draw the boundary of “no right to interfere.” Which do you agree with more—handling risk first, or insisting on protocol neutrality?
Figure 1: Mist’s Yu Xuan questions THORChain’s double standards—intervening when it was hacked, but emphasizing “no right to interfere” for external events · Source page partial screenshot
Image source: https://www.theblockbeats.info/flash/369163
