TREE NEWS update: THORChain responded to criticism from on-chain tracking platform MistTrack that it has repeatedly been used to move funds stolen from exchanges including Bybit and Bitget, saying it is a decentralized, permissionless protocol like Bitcoin, Ethereum and BNB Chain. The project asked what responsibility those chains should bear when they process known stolen funds. Bitget’s CEO had earlier called on THORChain to refuse service to attacker addresses.
THORChain Defends Handling of Stolen Exchange Funds, Cites Permissionless Design
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AI take
The dispute sharpens a structural tension in decentralized finance: permissionless networks cannot selectively block flows without abandoning the property that defines them, yet that same property makes them attractive for laundering stolen exchange funds. The exchange-side pressure, voiced by Bitget's CEO, signals that centralized platforms increasingly expect DeFi protocols to act as compliance partners — a demand THORChain's response implicitly rejects. Whether that refusal hardens into a broader industry split, or whether exchanges instead build their own tracking and recovery tools, is the open question worth watching.
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