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We recently had a user whose account was compromised. Our customer service team identified the situation quickly and froze the account. We then worked with the user to restore their original email and authenticator, helping secure the account and prevent further risk. Unfortunately, an API key that remained on the account allowed the attacker to transfer the funds before the issue could be fully contained. We are still investigating exactly what happened. But one thing is clear to us: we do not believe the user should have to bear the consequences of this incident. We immediately put together a dedicated team to handle the case, and we have fully compensated the user. We have always believed that being user-first means more than just saying it. When our users need us to step up, we will. Thank you to everyone for your trust, and especially to the user involved for giving our team the time today to work through this properly. We’ll keep learning, keep improving, and keep moving forward.

We are devasted to hear about the recent exploit and can imagine how difficult this must be for everyone involved. THORChain is decentralized and permissionless like Bitcoin, Ethereum, and BNB Chain. What responsibility should Bitcoin, Ethereum, and BNB Chain bear when handling known stolen funds? @star_okx @GracyBitget

THORChain and Stolen Funds: The Industry Needs Answers After the $1.46B @Bybit_Official hack last year, nearly $1.2B in stolen funds was reportedly traced through @THORChain as the attackers moved assets across chains. Today, following another major security incident at @Bitget , we are once again observing Bitget Exploiter funds being sent into the THORChain for asset swaps and cross-chain transfers. The question is no longer: “Does THORChain know these funds are associated with hackers?” The attacker addresses have already been publicly flagged and are being actively tracked by exchanges, blockchain security/aml firms, and the wider crypto industry. The real question is: When a protocol is aware that funds originate from a publicly identified major hack, yet continues to facilitate large-scale cross-chain swaps, how should the industry view this under the banner of “decentralization”? Decentralization should not become a blanket excuse when dealing with known stolen funds. If, after every major crypto hack, attackers can continue using THORChain as a route to move funds from ETH → BTC, BNB → BTC, and across other chains, the industry needs to seriously ask: What responsibility should THORChain bear when handling known stolen funds? @GracyBitget @xiejiayinBitget @benbybit