Finance.Yahoo THORChain Facilitates Movement of Stolen Funds from Bitget Hack
Article Content
- •Hackers stole $387.5 million from Bitget on September 24, 2026.
- •THORChain allows the movement of stolen funds, raising decentralization accountability issues.
- •Bitget has a $464 million protection fund for affected users.
On September 24, 2026, hackers stole $387.5 million from the crypto exchange Bitget. Following the incident, part of the stolen funds was traced to THORChain, which allows permissionless asset swaps across blockchains. Despite requests from Bitget to block the hacker's wallets, THORChain maintained its stance on decentralization, arguing that it operates similarly to Bitcoin and other major blockchains. This incident is reminiscent of the $1.46 billion Bybit hack in 2025, where nearly $1.2 billion in stolen funds was also moved through THORChain. Bitget's CEO has called for accountability, while THORChain's refusal to block the flagged wallets has led to criticism from industry peers. Bitget has a $464 million protection fund for its users and plans to restart withdrawals on September 29, 2026. The situation raises questions about the responsibilities of decentralized protocols in handling known stolen assets.
Ask AI about this cluster
Answers cite the sources they use
Timeline
More articles in this cluster (5)
Following this threat?
Track Lazarus and Bitget in your own feed — you're alerted when they show up in new reporting, leak sites or exploitation.
Free account · no card needed