Cross-Chain Swaps

Bitget

2026-09-28 10:27:31

Bitget’s $387.5 million hack puts THORChain at the center of a censorship dispute

Bitget’s latest security breach has turned into a wider industry argument over what decentralized protocols should do when stolen funds pass through their systems. The exchange said it detected abnormal transfers from some hot and warm wallets at 2:31 a.m. Beijing time on Sept. 25, later raising its estimated loss from about $351.6 million to roughly $387.5 million after identifying previously uncounted Zcash and TRON assets. Around 103 million XRP, worth about $157 million at the time, made up the largest portion of the stolen assets. Part of the funds was later traced through THORChain, where some BNB was swapped into Bitcoin. Bitget CEO Gracy publicly called on THORChain to block transactions tied to flagged attacker addresses, arguing that decentralization should not be used to facilitate the movement of known stolen funds. THORChain declined, saying it is a permissionless decentralized network, much like Bitcoin, Ethereum and BNB Chain. The dispute intensified because THORChain itself paused operations after a May 15 vault exploit that led to the theft of about $10.7 million. Critics, including OKX founder Xu Mingxing and security firm GoPlus, say that history makes it harder to argue the protocol has no ability to intervene. At the same time, the case has exposed unresolved questions around who decides which addresses are malicious, how lists are maintained, and how legitimate users can be protected from false positives.

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THORChain

2026-09-28 12:13:09

THORChain Rejects Bitget Request as Hacker Wallet Swaps About $6.3M in ETH for BTC

A wallet tied to the Bitget attacker swapped about 2,390 ETH for 75.2 BTC through THORChain on Monday, according to CoinDesk’s review of public transaction records. The transfers were worth roughly $6.3 million based on the prices cited in the report. CoinDesk identified 27 successful swaps, while four additional swaps involving 400 ETH were still marked pending in the response it reviewed. All bitcoin payouts were sent to a single address. The activity came after Bitget, which said it lost about $388 million in a Sept. 24 breach, asked THORChain to block publicly identified attacker addresses. The exchange also offered a 5% bounty for eligible efforts that freeze or recover stolen funds. Bitget CEO Gracy Chen said on X that decentralization should not be used as cover for moving known stolen assets. THORChain declined the request. The project said its emergency halt tools are meant to protect the protocol and cannot be used as a selective freeze on a specific address or individual swap. Its documentation says operators can stop swaps across all connected chains or restrict activity on a specific chain such as Ethereum, but doing so would also disrupt other users’ transactions.

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THORChain

2026-09-27 03:21:30

Analyst says THORChain moved most of the stolen Bybit funds and collected nearly $10 million in fees in 10 days

Odaily reported, citing on-chain analyst Yu Jin, that more than 90% of the funds swapped across chains through THORChain were tied to illicit or gray-market activity. Yu Jin said most of the funds stolen from Bybit last year were moved through THORChain, which generated nearly $10 million in fees over a 10-day period. He also said part of the funds stolen from Bitget in a recent incident had already been transferred through THORChain, with fee revenue from that flow reaching $1 million. The remarks focus on THORChain’s role in cross-chain fund movement and the fee income linked to those transfers.

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THORChain

2026-09-27 03:26:21

Analyst Yujin says over 90% of funds swapped through THORChain are illicit

ChainCatcher reported that on-chain analyst Yujin said more than 90% of the funds using THORChain for cross-chain swaps are tied to illicit activity. According to Yujin, most of the funds stolen from Bybit last year were moved through THORChain, which collected nearly $10 million in fees over a 10-day period. He also said part of the funds stolen from Bitget recently has already been transferred through THORChain, generating $1 million in fee revenue so far. The remarks focus on THORChain’s role in moving stolen assets across chains and the fee income linked to those transfers.

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NEAR

2026-09-21 05:47:52

NEAR jumps past $4 as Zcash swap flow lifts activity on NEAR Intents

NEAR posted a sharp gain during Asian trading on Sept. 21, with CoinDesk reporting that the token rose about 23% on the day and moved above $4. CoinGecko data showed NEAR at $4.31 by the afternoon in Taipei, up roughly 24% over 24 hours. CoinDesk tied the move to NEAR Intents, a cross-chain swap service on the NEAR blockchain that has recently become a main route for Zcash conversions. The report said Zcash wallets including ZODL and Vizor have integrated NEAR Intents for ZEC swaps. Over the past week, daily ZEC volume through the service grew to six times its previous level. ZODL said swaps inside its wallet are executed through NEAR Intents, matched by independent market makers, enforced on-chain by smart contracts, and delivered directly to a newly created shielded address. Vizor, a self-custodial Zcash wallet built by the Keplr wallet team, also lists NEAR Intents as its cross-chain swap provider. DefiLlama data showed total daily volume across all assets on NEAR Intents ranging from about $90 million to $200 million between Sept. 5 and Sept. 16, then rising to about $303 million on Sept. 17. Volume was about $228 million on Sept. 18 and about $119 million on Sept. 20, with roughly $1.16 billion over the past seven days.

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Chainflip

2026-09-17 21:40:37

Chainflip to restart network with Tron route offline and LP balances reset

Chainflip said it plans to switch its cross-chain swap network back on with Tron still paused and Tron-based liquidity providers seeing their live trxUSDT balances reset to zero. The protocol said an attacker removed 736,442.17 USDT from its Tron vault on Sept. 12, leaving the vault short of what providers are owed. Under software version 2.2.13, Chainflip will close all open Tron USDT orders, strategies, and lending positions, snapshot each provider’s holdings into a separate on-chain claim record, and zero out the live account balance. The project said it intends to make affected providers whole, but it has not disclosed where replacement funds will come from, when they will arrive, or how much stolen USDT it expects to recover. The same release also changes how Tron vault swaps work by accepting swap-triggering memos only on plain TRX transfers or direct TRC-20 transfers, which Chainflip described as the fix for the exploit.

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Ave

2026-09-15 04:00:00

Ave adds Ink support for cross-chain swaps and on-chain trading

Ave has integrated the Ink ecosystem and now supports cross-chain instant swaps and on-chain trading for assets on the network, giving users a single access point for trading within Ink. Ink is an Ethereum Layer 2 network launched by crypto trading platform Kraken. It is built on the OP Stack and is part of the Optimism Superchain. According to the announcement, the network is focused on DeFi use cases and offers low transaction costs, fast block production, EVM compatibility, and Superchain interoperability. Ave also said it already supports price tracking and trading for assets from major launch platforms. With the Ink integration now live, the platform’s coverage has expanded to include both major and emerging Layer 2 networks, allowing users to directly take part in DeFi trading across the Ink ecosystem.

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1inch

2026-09-11 02:59:57

1inch adds HyperEVM support with gasless swaps and built-in MEV protection

1inch has integrated HyperEVM, the EVM network under Hyperliquid, and made the support available across its core products, including the 1inch dApp, 1inch Wallet, Aqua, and all APIs. The rollout allows users on HyperEVM to carry out token swaps through intent-based trading with no gas fees and built-in MEV protection. 1inch also said users can swap assets from other public blockchains directly into assets on HyperEVM through its cross-chain swap feature, removing the need to use a traditional bridge. The update expands 1inch’s available network support while adding a new route for users looking to access HyperEVM liquidity and assets through the company’s existing trading interfaces and infrastructure.

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