The hackers who stole Bitget’s funds and moved the stolen proceeds also used Thorchain.
From Bybit to KelpDAO to Balancer and most recently Bitget, it seems the hackers have reached a consensus to route the stolen funds transfer via @THORChain, and they all have a particular fondness for Thorchain.
As of now, the stolen funds transferred by hackers via the Thorchain DEX have reached $100 million. Yesterday, the Thorchain DEX generated its largest daily revenue so far this year—only $257,000—which, compared with other protocols, isn’t that much.
What’s interesting is that the attack address in the Bitget hack has already been publicly flagged, yet Thorchain still chose to provide large-scale swap channels. Thorchain’s response is that it is decentralized infrastructure, so it cannot and will not choose a centralized method to freeze funds.
A soul-searching question: Is this kind of decentralization truly worth praising?
#THORChain $RUNE
From Bybit to KelpDAO to Balancer and most recently Bitget, it seems the hackers have reached a consensus to route the stolen funds transfer via @THORChain, and they all have a particular fondness for Thorchain.
As of now, the stolen funds transferred by hackers via the Thorchain DEX have reached $100 million. Yesterday, the Thorchain DEX generated its largest daily revenue so far this year—only $257,000—which, compared with other protocols, isn’t that much.
What’s interesting is that the attack address in the Bitget hack has already been publicly flagged, yet Thorchain still chose to provide large-scale swap channels. Thorchain’s response is that it is decentralized infrastructure, so it cannot and will not choose a centralized method to freeze funds.
A soul-searching question: Is this kind of decentralization truly worth praising?
#THORChain $RUNE
