# protocol exploit — X 热门讨论 (2026-09-28 18:01 UTC)
## @DBCrypt0 (DBCrypto) · 09-28 14:46 · ♥23 ↻3 💬7 They made $3M in fees on the Bybit hack
Nobody complained
Now $387M just got stolen from Bitget and suddenly THORChain can't help because decentralization
@bitgetglobal CEO Gracy Chen formally asked THORChain to blacklist the addresses moving stolen funds from her exchange
Her exact words:
"Decentralization is a design principle, not a shield for facilitating known stolen funds. The industry is watching."
@THORChain responded this morning:
"A network halt is an emergency security mechanism… A halt is not a selective freeze of specific funds or an individual swap."
Translation?
There's no button for that
Except we've watched this before
When the Bybit hacker pushed $1.4B through THORChain in 2025, the protocol recorded $2.91B in trading volume off those flows
According to crypto dot news that's roughly $3M in fee income
Nobody called it an emergency 🤨
The "we're just Bitcoin with swaps" defense has a massive hole too
GoPlus Security pointed out Friday that THORChain runs threshold-signature vaults controlled by validators
Users don't hold their own keys but validators do
Bitcoin miners can't touch your coins because they never custody them
THORChain validators already have access
Now here's the steelman, because it's legitimate:
Michael Perklin, security exec backing THORChain, argues node operators only get a binary on/off switch
So there is no per-transaction blocking
That's genuinely the same limitation Bitcoin miners and ETH validators face
That’s definitely fair
But THORChain HAS thrown that switch before
A full month of network halt in May 2026 after a $10.7M exploit hit the protocol itself
So the mechanism exists AND it has been used
Just never for someone else's money…
So the reality is that when THORChain bleeds, it's worth a month of downtime
When $387M from North Korean hackers runs through the pipes, it's a principle worth defending
Same switch just different owner
The fees clear either way https://x.com/DBCrypt0/status/2104583497545629861