ThorChain: Network outage not selective freezing of specific funds, but an emergency security mechanism.
44 minutes ago
Official announcement from ThorChain states that the network outage is an emergency security mechanism intended to protect the protocol’s security. The suspension is not selective freezing of specific funds, nor individual swaps for targeted parties. During the May 2026 security incident, $10.7 million was stolen from its liquidity pools. At the time, the attacker’s address was not blacklisted, allowing transactions to continue on THORChain. THORChain is a permissionless blockchain platform built to avoid any form of censorship. On September 26, Bitget CEO Gracy Chen noted that attacker addresses linked to the exchange’s security incident had been made public and were under ongoing tracking. Bitget is now formally demanding that THORChain cut off services to these addresses. “Decentralization is a design principle, not a shield to facilitate the flow of known stolen funds,” she said, adding that the entire crypto industry is monitoring THORChain’s response to the issue. Recently, THORChain has sparked controversy over hackers using it as a channel for money laundering, yet it continues to refuse to block such activities, citing its decentralized and permissionless design.
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