THORChain cites emergency security mechanism after $10.7 million theft

  • THORChain said it cannot selectively block addresses linked to hacked funds.
  • Attackers stole $10.7 million from a liquidity pool during the May 2026 exploit.
  • THORChain did not blacklist the attacker's address, and swaps remained available.

THORChain said it cannot individually block addresses associated with hacked funds, and that shutting down the network would be an emergency security action affecting the entire protocol rather than a means to freeze specific assets. Attackers stole $10.7 million from a liquidity pool in the May 2026 incident, but the attacker address was not blacklisted and swaps continued. The cross-chain decentralized exchange said its permissionless design does not censor transactions. Information security expert Michael Perklin said stopping illicit transfers would require node operators to turn off their nodes, halting legitimate activity as well. THORChain was previously reported to have rejected Bitget's request to block addresses tied to hacked funds.

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