THORChain Rejects Bitget Request to Block Breach-Linked Funds

Bitget has asked THORChain to block cryptocurrency addresses it says are linked to the exchange’s September 24 security breach, but the cross-chain protocol has rejected the request, saying its permissionless design does not allow selective freezes of individual addresses. Bitget CEO Gracy Chen made the request publicly on September 26, arguing that decentralization should not prevent networks from responding to identified stolen funds. The exchange said it had identified the addresses and was tracking them as assets moved across blockchain networks. Bitget has revised its estimate of assets transferred to attacker-controlled addresses from about $351.6 million to approximately $387.5 million after identifying additional transactions. That figure is the exchange’s assessment, not an independently established loss total in the information available. THORChain said its emergency shutdown mechanisms are intended to protect the protocol and do not provide a way to blacklist individual addresses.