Hacking News
THORChain Hacked, $1.4M Tether Frozen
THORChain, a decentralized exchange, was hacked, resulting in the freezing of approximately $1.4 million in Tether (USDT) across four of its vaults. THORChain's co-founder, Chad Barraford, interviewed on the issue, stating that while the freezing of DEX pools would be suicide for a stablecoin, the protocol's permissionless nature allows it to still hold assets whose issuer can freeze them. The interview discusses the decentralized governance model and the power dynamics in blockchain networks.