THORChain rejects Bitget request as about $6.3 million moves to bitcoin

A wallet linked to the Bitget hacker converted about $6.3 million in ether into bitcoin through THORChain on Monday. THORChain rejected Bitget's request to block addresses holding stolen funds. THORChain said its emergency controls can halt broader network activity but cannot freeze an individual address or transaction. Public transaction records showed 27 successful swaps that exchanged about 2,390 ETH for 75.2 BTC. All bitcoin payouts went to one address. Four additional swaps involving 400 ETH were marked pending. The orders were submitted between about 03:55 and 06:23 UTC on Monday. Lookonchain identified the Ethereum wallet as part of the attacker's activity. Most swaps were submitted in roughly 100 ETH batches worth about $265,000 each. THORChain lets users exchange assets across blockchains without opening an account at a centralized exchange. An attacker can send in stolen ether and receive bitcoin in another wallet without using an exchange that could block the transfer. The swaps remain publicly visible, allowing investigators to follow the funds across networks.