Hackers stole $387.5 million from crypto exchange Bitget on September 24. Part of it is now being turned into Bitcoin through THORChain, which refuses to block it.

THORChain lets anyone swap a coin on one blockchain for a coin on another, with no ID check. Once it becomes Bitcoin, no company can freeze it.

Bitget Asks THORChain to Turn the Hacker Away

The hacker’s wallets are public and tracked. Bitget CEO Gracy Chen asked THORChain to refuse them.

“Decentralization is a design principle, not a shield for facilitating known stolen funds. The industry is watching,” she said.

Blockchain tracker MistTrack says this has happened before. After the $1.46 billion…