Bitget CEO Gracy Chen has asked Thorchain, a decentralized exchange (DEX) protocol, to block wallets linked to hackers who stole $387.5 million from the exchange on Sept. 24. Thorchain said its system was decentralized and permissionless, while OKX founder and CEO Star Xu argued that its threshold-signature and validator model gives operators effective control over assets. Dashpay business development and marketing lead Joel Valenzuela defended Thorchain and criticized Chen’s request. The dispute has revived scrutiny of Thorchain’s role after it served as a major route for an estimated $1.2 billion in funds stolen from Bybit in February 2025, despite pressure from the FBI.