Following the Bitget hack on September 24, $387,5 million in stolen funds were moved across various platforms. Bitget CEO Gracy Chen requested that THORChain block addresses associated with the attacker, but the platform refused to intervene.
THORChain maintains that its system is designed to be permissionless and lacks the functionality to screen individual transactions. The protocol previously halted operations in May after an exploit resulted in a loss of over $10 million, demonstrating that it can intervene during technical emergencies.
In contrast, NEAR Intents utilized its automated security layer, SHIELD, to block $503 000 of the stolen funds, while noting that $166 000 had already passed through. The system identified over $50 million in attempted flows related to the Bitget incident.
NEAR Intents also waived its portion of the recovery bounty for the Bitget funds. The platform utilizes AI-based tools to apply targeted controls, recently halting a separate $3,8 million exploit involving Omni. Critics argue that these interventions challenge the decentralized nature of the protocol.
The debate highlights a divide in the crypto industry between those prioritizing strict permissionless ideals and those advocating for cooperation to prevent the movement of stolen assets. Legal experts suggest that automated systems like SHIELD may still fall under protections for decentralized protocols.
