Bitget Hack Losses Rise to $387.5 Million, Thorchain Urged to Act
- Bitget’s hack damage estimate increased from $351 million to approximately $387.5 million.
- The stolen funds are being moved using various platforms, including Thorchain, Chainflip, Uniswap, and 1inch Fusion.
- CEO Gracy Chen requested Thorchain to block the attacker addresses publicly listed and tracked.
- Thorchain previously faced similar pressure during the Bybit hack but did not block fund movements.
Bitget’s losses from a recent hack have escalated, prompting CEO Gracy Chen to call on decentralized network Thorchain to prevent further movement of stolen funds by blocking attacker-controlled addresses. Despite past requests during other hacks, Thorchain has maintained its stance on decentralization and permissionless operations.
The increase in Bitget’s estimated losses underscores the ongoing challenge of securing digital assets in decentralized finance environments like DeFi. The situation highlights the tension between decentralization principles and security measures within the crypto ecosystem. (Source)
