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CASE STUDY | This Hack Has Exposed Crypto’s Permissionless Idealism – BitKE

CASE STUDY | This Hack Has Exposed Crypto’s Permissionless Idealism – BitKE

A dispute between cross-chain protocols THORChain and NEAR Intents over the handling of funds stolen in the $387.7 million BitGet hack has highlighted a growing divide in the crypto industry over how far permissionless systems should go in preventing illicit transactions.

 

MILESTONE | BitGet Says Stolen Funds Nearing $400 Million as Security Breach Unfolds

 

About $387.5 million of stolen assets began moving across blockchains after the September 24 2026 BitGet breach, with some funds routed through THORChain. BitGet CEO, Gracy Chen, urged THORChain to block addresses linked to the attacker but the protocol declined arguing that selectively blocking transactions would conflict with its permissionless…

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