Bitget lost $387.5 million in a hack and asked THORChain to block the attacker’s addresses, but the protocol declined. In a conversation published by The Defiant, THORChain technical co-founder Chad Barraford discussed the question dividing DeFi: if a protocol can stop a hacker, should it? The discussion also touched on why hackers move to Bitcoin to cash out, the distinction between a protocol that cannot act and one that will not act, and how THORChain compares with Bitcoin, Ethereum, and NEAR Intents. The report also referenced a separate episode in which Tether froze four THORChain vaults on Tron holding 1.45 million USDT before unfreezing them three hours later. Barraford and host Camila Russo also revisited THORChain’s own security incident in May, when the protocol lost $10.7 million because of a GG20 flaw and remained halted for 39 days. The episode closed with a discussion of what may come next, including Monero, Zcash, new chains, and the view that decentralized exchanges will eventually outperform centralized exchanges.
Bitget lost $387.5 million in a hack and later asked THORChain to block the attacker’s addresses. THORChain declined.
In a podcast published by The Defiant, Camila Russo spoke with THORChain technical co-founder Chad Barraford about a question that has split opinion across DeFi: if a protocol has the ability to stop a hacker, should it do so?
Bitget hack and THORChain’s refusal
The report says Bitget lost $387.5 million in the attack and then asked THORChain to block the addresses tied to the hacker. THORChain said no.
Weeks later, Tether froze four THORChain vaults on Tron that were holding 1.45 million USDT. Those vaults were unfrozen three hours later.
The debate over intervention
The conversation focused on the line between what a protocol cannot do and what it will not do. Russo and Barraford also discussed why hackers turn to Bitcoin when cashing out and how THORChain compares with Bitcoin, Ethereum, and NEAR Intents.
THORChain’s own security incident
The episode also revisited THORChain’s loss of $10.7 million in May because of a GG20 flaw. The protocol remained halted for 39 days after that incident.
The discussion then moved to what could come next, including Monero, Zcash, new chains, and the bet that decentralized exchanges will eventually beat centralized exchanges.
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