Hackers stole $387.5 million from crypto exchange Bitget on September 24, and part of the funds is being converted into Bitcoin through THORChain, a permissionless cross-chain swapping network that does not require identity checks. Bitget CEO Gracy Chen asked THORChain to reject the hacker's publicly tracked wallets, arguing that decentralization should not facilitate known stolen funds. THORChain said it is open to anyone, like Bitcoin, Ethereum and BNB Chain, and questioned what responsibility those networks bear when processing stolen assets. The response has drawn criticism because THORChain has previously paused or restricted activity during crises. OKX founder Star Xu said the network paused a vault after roughly $10 million was drained in May, while nodes halted the network after a 2021 hack and voted in January 2025 to freeze its lending and savings products. MistTrack said nearly $1.2 billion from last year's $1.46 billion Bybit hack was reportedly traced through THORChain, while researchers and Bybit linked most of the February 2025 attack to Lazarus Group's conversion of assets into Bitcoin. Bitget says its $464 million protection fund covers every customer, withdrawals will resume Monday beginning with Bitcoin at 8:00 UTC, and it is offering a 5% bounty for information that helps freeze the funds. Chen said North Korea was very likely responsible. THORChain had not blocked the flagged wallets, while its RUNE token gained more than 20% over the previous 24 hours.