Bitget Asks THORChain to Block Hacker Address, Protocol Says No
THORChain (RUNE)
Editor:
Eugene Serbin
Coinpedia.org reports that Bitget has asked THORChain validators to block addresses linked to the Bitget hackers, but the protocol rejected the request. Following the 24 September 2026 breach, attackers routed stolen USDT and USDC through THORChain to convert assets into native Bitcoin. Security firms TRM Labs and SlowMist’s MistTrack tracked the movement of funds, noting that issuers froze $318,000 in USDT and USDC from one address.
Over 13 hours, hackers moved $4 million–$4.5 million through THORChain, swapping millions in ETH and BNB for BTC before spreading the coins across thousands of wallets. Bitget CEO Gracy Chen formally asked the network to refuse service to the publicly listed attacker addresses, stating, "Decentralization is a design principle, not a shield for facilitating known stolen funds." THORChain rejected the censorship request, citing its permissionless design similar to Bitcoin and Ethereum.
The protocol argued that blocking specific transactions would contradict its core operating principles. Security experts like SlowMist founder Cosine criticized the decision, pointing out that THORChain previously paused its network during the 2021 drain and froze withdrawals in January 2025.
How the market reacted
Whalio's own Binance spot order flow for RUNE, measured when this story was written up on 27 September 2026. Not the outlet's figures.
Whalio spot data for RUNE shows a price of $0.7740 with a 24-hour buy ratio of 55.9%, indicating that buyers controlled the majority of volume over the day. The 1-hour buy ratio dropped to 44.0%, suggesting that short-term buying pressure is fading compared to the broader daily trend. Volume delta turned negative in the last hour at -$74,084, contrasting with a positive +$250,557 over the 4-hour window. This shift implies that immediate aggressive accumulation has slowed, even as the 24-hour cumulative volume delta remains strongly positive at +$4,549,382. The market saw 149,727 trades in 24 hours, with net buying occurring for 19 of the 24 hours.
The latest daily buy ratio of 45.1% sits at the 6th percentile of the last 323 days, against a median of 50.3% - among the weakest buying days it has had.
Was that an ordinary day?
The same Binance spot measurements for RUNE, averaged over the days leading up to the story.
Over the preceding week, RUNE experienced an unusual surge in activity, with spot volume reaching 9.13 times the average. The buy ratio for the latest day was 5.1 points higher than the 7-day average of 50.7%, signaling intensified interest relative to normal conditions. This activity contributed to an 8-day price change of +39.2%, driven by a total volume delta of +$4,196,055. While the 24-hour metrics show a cooling of immediate momentum, the weekly context confirms that the coin has been in a strong uptrend for five of the last seven days.