THORChain Faces Backlash Over Bitget Hack Response and Ethereum’s Evolution
- Bitget reported unauthorized transfers totaling $387.5 million, linked to North Korean hackers.
- CEO Gracy Chen urged THORChain to blacklist the addresses involved, which THORChain declined.
- THORChain’s token RUNE surged by over 50% in a week amid the controversy.
- Vitalik Buterin announced Ethereum’s shift towards integrating zero-knowledge proofs and advanced cryptographic features.
- SEC Commissioner Hester Peirce, known as “Crypto Mom,” resigned and advocated for zero-knowledge proofs in KYC processes.
The fallout from Bitget’s hack highlights ongoing tensions between centralized exchanges and decentralized protocols like DeFi. As traditional systems face security challenges, the push for innovative solutions such as zero-knowledge proofs gains momentum in regulatory discussions.
This week, Bitcoin traded at $84,222 while Ethereum reached $2,674, reflecting a broader market recovery amidst these developments. (Source)
