🔷 Dispute over blocking stolen funds: THORChain vs NEAR Intents
📋 Facts:
• After the Bitget hack on September 24, $387.5 million was stolen
• Bitget CEO Gracy Chen asked THORChain not to service the attacker’s addresses
• THORChain refused, citing the principles of a permissionless protocol
• Developer Boone Wheeler: "a permissionless protocol cannot block funds"
• NEAR Intents took the opposite position
• The automated SHIELD system identified $50+ million in transfer attempts
• It stopped $503,000 while it was in the process of being executed
• $166,000 went through the system
• A dispute between cypherpunks and supporters of regulated infrastructure
🧠 The Bitget hack revealed a fundamental philosophical divide in the crypto industry. THORChain claims that a truly decentralized protocol cannot see the origin of funds. NEAR Intents shows that decentralization can be preserved by adding protective mechanisms.
⚠️ Risks: ethical dilemmas; regulatory pressure; possibility of abuse; industry fragmentation; user losses.
❓ Can decentralization and security be reconciled? 👇
$RUNE $NEAR #Rune
📋 Facts:
• After the Bitget hack on September 24, $387.5 million was stolen
• Bitget CEO Gracy Chen asked THORChain not to service the attacker’s addresses
• THORChain refused, citing the principles of a permissionless protocol
• Developer Boone Wheeler: "a permissionless protocol cannot block funds"
• NEAR Intents took the opposite position
• The automated SHIELD system identified $50+ million in transfer attempts
• It stopped $503,000 while it was in the process of being executed
• $166,000 went through the system
• A dispute between cypherpunks and supporters of regulated infrastructure
🧠 The Bitget hack revealed a fundamental philosophical divide in the crypto industry. THORChain claims that a truly decentralized protocol cannot see the origin of funds. NEAR Intents shows that decentralization can be preserved by adding protective mechanisms.
⚠️ Risks: ethical dilemmas; regulatory pressure; possibility of abuse; industry fragmentation; user losses.
❓ Can decentralization and security be reconciled? 👇
$RUNE $NEAR #Rune
