The THORChain team refused a request from the Bitget exchange to block addresses linked to a recent hack. Bitget suffered a security breach on September 24, resulting in losses estimated at $387.5 million. The exchange identified the attacker's addresses and asked the protocol to stop processing their transactions.
THORChain developers stated that their network is designed as a permissionless system that does not perform selective censorship. They explained that an emergency network halt is a protocol-wide security measure, not a tool for freezing specific funds. The project emphasized that it lacks a central authority to make such decisions.
The protocol's governance structure changed in February 2025 when the Mimir administrative key was removed. Currently, network operations are managed by nodes, and specific actions like halting trades require a vote from three operators. The team compared their model to Bitcoin and Ethereum, which also do not restrict user transactions.
Security experts from GoPlus Security challenged this comparison, arguing that THORChain's architecture allows for freezing assets without stopping the entire network. They noted that assets are held in TSS vaults managed by validators. The debate follows a history of similar tensions, including a 2025 incident involving Lazarus Group funds.
