THORChain faces prosecution risk over Bitget hack funds
THORChain (RUNE)
Editor:
Eugene Serbin
Cointelegraph reports that THORChain may face legal challenges for failing to block addresses linked to the $387.5 million Bitget hack. Bitget CEO Gracy Chen demanded the protocol refuse service to the stolen funds, but THORChain cited its decentralized nature and retired admin key as reasons it cannot easily censor addresses. This situation mirrors the Bybit hack, where THORChain swapped $1.2 billion of stolen funds shortly after its admin key was retired.
Crypto lawyer Yuriy Brisov explains that while decentralization is a strong legal defense, it is not absolute. He notes that if a protocol demonstrates the ability to block addresses, it may open itself to claims regarding due diligence and KYC obligations. THORChain argues its May halt was automated, which could serve as a defense, though this has not yet been tested in court.
In contrast, NEAR Intents used its automated SHIELD program to block $50 million in hack-related swaps, earning Bitget’s gratitude. Brisov suggests NEAR’s automated approach is a safer legal strategy because it removes human discretion from the censorship process. He concludes that THORChain’s lack of an admin key and presence of 100 validators make it sufficiently decentralized to likely avoid liability.
How the market reacted
Whalio's own Binance spot order flow for RUNE, measured when this story was written up on 30 September 2026. Not the outlet's figures.
RUNE is trading at $0.7520 with a 24-hour buy ratio of 51.2%, indicating a slight majority of buyers over the full day. However, shorter-term momentum shows weakness, with the 1-hour buy ratio at 46.6% and the 4-hour ratio at 45.5%. The volume delta confirms this short-term selling pressure, showing -$29,268 in the last hour and -$195,181 over four hours. Volume delta measures the net difference between buy and sell volume, so negative figures mean sellers are dominating these timeframes. Despite the intraday selling, the 24-hour volume delta remains positive at $261,346, showing that buying pressure was stronger earlier in the day. The coin has seen net buying for 15 of the last 24 hours, but the recent flow indicates a shift toward distribution.
The latest daily buy ratio of 40.1% sits at the 1st percentile of the last 324 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 averaged a 52.6% buy ratio, making today’s 24-hour ratio of 51.2% slightly below the weekly norm. Trading volume has also cooled, sitting at 0.87 times the weekly average, suggesting reduced participation. The price rose 17.3% over the eight-day period, supported by a total volume delta of +$7,647,234. While today’s intraday metrics show fading buying interest, the broader weekly trend remains positive with six days of net buying out of seven. This represents a continuation of an upward trend, though the current session is less bullish than the weekly average.