Back to news
Safety
THORChain Refused to Block Funds Linked to $387M Bitget Hack
(4 hours ago) · 1 source · Summarized by CryptoBipto
THORChain reportedly declined to block transactions associated with a $387 million hack of the Bitget exchange. The decision has raised questions about the role of decentralized protocols in responding to stolen funds. Chad Barraford discussed the reasoning behind the decision.
WHY IT MATTERS
When a centralized exchange like Bitget gets hacked, authorities and the exchange typically ask other platforms to freeze the stolen funds so the hacker cannot cash them out.
Read the full analysis with a CryptoBipto membership
Members read why every story matters and the full analysis behind it.
SOURCES
- thedefiant.io
RELATED
RUNEDeFiCensorship ResistanceExchange HacksTHORChainDecentralization
Learn the concepts behind this
Clear explanations of the subjects this article touches, with every term defined.
- What is DeFi, and how does decentralized finance work?Decentralized finance explained: liquidity pools, yield farming, impermanent loss, DAOs and governance tokens, each with its own definition page.
- What is cryptocurrency, and how does it work?A simple explanation of cryptocurrency, blockchains, coins, tokens, mining and staking, with a definition page for every term used.