WuBlockchain
Bitget CEO Gracy Chen asked THORChain to refuse service to publicly identified attacker addresses, arguing decentralization should not shield the facilitation of stolen funds. THORChain said its network is permissionless.
Why it matters
The dispute puts a core design tension in focus: whether a decentralized protocol should intervene when stolen funds originate on an external platform. Blocking specific addresses is distinct from halting a network, but both raise questions about who can act and under what conditions.
Market impact
A May 2026 attack on a THORChain vault caused approximately $10.7 million in losses. Automatic safeguards and coordinated action by node operators halted the network. Co-founder Chad Barraford later discussed anomaly detection, emergency pauses, security checks, and asset migration procedures as possible steps before trading resumes.
Frequently asked questions
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What did Bitget CEO Gracy Chen ask THORChain to do?
She asked THORChain to refuse service to publicly identified attacker addresses, arguing that decentralization should not shield the facilitation of stolen funds.
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How did THORChain respond to the request?
THORChain emphasized that its network is permissionless.
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How much was lost in the THORChain vault attack?
The May 2026 attack on a THORChain vault caused approximately $10.7 million in losses.
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What happened after the vault attack?
Automatic safeguards and coordinated action by node operators halted the network.
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What security measures did Chad Barraford discuss?
He discussed anomaly detection, emergency pauses, security checks, and asset migration procedures before trading could resume.
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