{"id":14224,"date":"2026-10-08T12:48:10","date_gmt":"2026-10-08T12:48:10","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=14224"},"modified":"2026-10-08T12:48:10","modified_gmt":"2026-10-08T12:48:10","slug":"thorchain-made-63-of-its-record-3-million-september-income-during-the-bitget-hack-linked-trading-surge","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=14224","title":{"rendered":"THORChain made 63% of its record $3 million September income during the Bitget hack-linked trading surge"},"content":{"rendered":"<p><\/p>\n<div data-cs-editorial-figure-scope=\"\" data-cs-editorial-quote-scope=\"\" data-cs-image-viewer-scope=\"\" data-single-article-content=\"\">\n<p>THORChain\u2019s September income surged as Bitget-linked flows drove the protocol\u2019s busiest stretch in more than a year.<\/p>\n<p>The cross-chain exchange generated $3.01 million in system income last month, its highest since March 2025, while swap volume climbed to $2.40 billion, the most since June 2025.<\/p>\n<p>Much of that activity was compressed into five days following the Bitget hack. About $1.37 billion, or 57% of September\u2019s swap volume, crossed THORChain between Sept. 25 and Sept. 29, while the network generated roughly $1.9 million of income during the same period, equivalent to about 63% of the monthly total.<\/p>\n<p><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter shoggoth-infographic shoggoth-infographic-portrait wp-image-569835\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/exec-8ff16d18-ee4c-4fc4-8980-597d646f3b5a.png\" alt=\"THORChain's September 2026 income concentration: about $1.9 million during September 25\u201329, approximately 63% of $3.01 million for the month. Period totals cover all activity, with stolen-fund fee attribution unavailable. Supporting swap volume and wallet figures accompany separately reported frontend fees.\" width=\"720\" height=\"900\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/exec-8ff16d18-ee4c-4fc4-8980-597d646f3b5a.png 1122w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/exec-8ff16d18-ee4c-4fc4-8980-597d646f3b5a-240x300.png 240w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/exec-8ff16d18-ee4c-4fc4-8980-597d646f3b5a-819x1024.png 819w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/exec-8ff16d18-ee4c-4fc4-8980-597d646f3b5a-768x960.png 768w\" sizes=\"auto, (max-width: 720px) 100vw, 720px\"\/><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"lazyload aligncenter shoggoth-infographic shoggoth-infographic-portrait wp-image-569835\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/exec-8ff16d18-ee4c-4fc4-8980-597d646f3b5a.png\" alt=\"THORChain's September 2026 income concentration: about $1.9 million during September 25\u201329, approximately 63% of $3.01 million for the month. Period totals cover all activity, with stolen-fund fee attribution unavailable. Supporting swap volume and wallet figures accompany separately reported frontend fees.\" width=\"720\" height=\"900\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/exec-8ff16d18-ee4c-4fc4-8980-597d646f3b5a.png 1122w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/exec-8ff16d18-ee4c-4fc4-8980-597d646f3b5a-240x300.png 240w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/exec-8ff16d18-ee4c-4fc4-8980-597d646f3b5a-819x1024.png 819w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/exec-8ff16d18-ee4c-4fc4-8980-597d646f3b5a-768x960.png 768w\" data-sizes=\"(max-width: 720px) 100vw, 720px\"\/><\/p>\n<p>THORChain said the surge coincided with funds linked to the Bitget exploit moving through the network. It explained:<\/p>\n<blockquote>\n<p>\u201cBetween September 25 and 29, daily volume ran between roughly $190M and $460M as funds linked to the Bitget exploit moved through the network.\u201d<\/p>\n<\/blockquote>\n<p>The concentration nevertheless highlights the economic consequences of a position THORChain defended as Bitget sought to limit the movement of stolen funds.<\/p>\n<aside id=\"cs-inline-newsletter-1\" class=\"cs-inline-newsletter\" data-inline-newsletter=\"\" data-newsletter-placement=\"article-midpoint\" data-newsletter-pending-label=\"Joining\u2026\" data-newsletter-pending-status=\"Joining The Catalyst\u2026\" data-newsletter-email-required-message=\"Before sending, please provide your email address.\" aria-labelledby=\"cs-inline-newsletter-1-title\" aria-describedby=\"cs-inline-newsletter-1-copy\">\n<div class=\"cs-inline-newsletter__inner\">\n<div class=\"cs-inline-newsletter__content\"> <span class=\"cs-inline-newsletter__eyebrow\"> <i class=\"fa-regular fa-envelope\" aria-hidden=\"true\"\/> The Catalyst <\/span><\/p>\n<h2 id=\"cs-inline-newsletter-1-title\" class=\"cs-inline-newsletter__title\">What\u2019s moving crypto. Why it matters.<\/h2>\n<p id=\"cs-inline-newsletter-1-copy\" class=\"cs-inline-newsletter__copy\">Get CryptoSlate\u2019s essential stories and what to watch next.<\/p>\n<p>  <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" fill=\"currentColor\" viewbox=\"0 0 16 16\" aria-hidden=\"true\" focusable=\"false\"> <path d=\"M15 3.604H1v1.891h14v-1.89ZM1 7.208V16l7-3.926L15 16V7.208zM15 0H1v1.89h14z\"\/> <\/svg> <span>Published on Substack<\/span> <\/div>\n<div class=\"cs-inline-newsletter__form-shell\">\n<p id=\"cs-inline-newsletter-1-privacy\" class=\"cs-inline-newsletter__privacy\">Seven days a week. Unsubscribe anytime.<\/p>\n<p> <i class=\"fa-regular fa-circle-xmark\" aria-hidden=\"true\"\/> <span>Whoops, looks like there was a problem. Please try again.<\/span><\/p>\n<div class=\"cs-inline-newsletter__success\" role=\"status\" aria-live=\"polite\" aria-atomic=\"true\" tabindex=\"-1\"> <span class=\"cs-inline-newsletter__success-icon\" aria-hidden=\"true\"\/><\/p>\n<div>\n<h3 class=\"cs-inline-newsletter__success-title\">Check your inbox.<\/h3>\n<p class=\"cs-inline-newsletter__success-copy\">Your signup request was sent. If confirmation is required, follow the email from Substack.<\/p>\n<p class=\"cs-inline-newsletter__success-hint\">Look in spam or promotions if you don\u2019t see it.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/aside>\n<p>After the exchange was hacked, THORChain rejected calls for selective intervention, arguing that the protocol is decentralized and permissionless in the same way as Bitcoin, Ethereum and BNB Chain.<\/p>\n<p>It also distinguished a network halt, an emergency mechanism designed to protect THORChain itself, from censoring individual addresses or transactions. The protocol pointed to its own May exploit, when attackers stole $10.7 million from liquidity pools but were not blacklisted from swapping assets through the network afterward.<\/p>\n<p>Bitget said roughly $387.5 million was ultimately transferred to attacker-controlled addresses during the September breach.<\/p>\n<h2>THORChain&#8217;s record activity came without a user boom<\/h2>\n<p>THORChain\u2019s wallet data suggests the revenue jump reflected unusually large flows rather than a comparable expansion in its user base.<\/p>\n<p>Active wallets increased to 25,000 in September from 23,500 in August, while new wallets edged up to 22,400 from 21,800. THORChain said wallet activity barely responded to the late-month volume spike, pointing to concentrated transactions from a relatively small number of participants.<\/p>\n<p>That distinction complicates the headline improvement in protocol economics.<\/p>\n<p>September income was almost five times August\u2019s $615,000, while swap volume nearly quadrupled from $613 million. Yet most of the incremental activity came during the same narrow period when hack-linked assets moved across chains.<\/p>\n<p>The burst also inflated trailing yield measures. RUNE\u2019s seven-day annualized return reached 69.03% on Sept. 29, while TCY\u2019s climbed to 29.74%. THORChain expects those readings to decline as the high-fee days roll out of the calculation window.<\/p>\n<p>Frontend affiliates separately earned about $840,700 during September, with roughly $669,000 going to unidentified affiliates.<\/p>\n<p>For liquidity providers and token holders, the next test is whether ordinary trading can replace the exceptional activity that lifted September\u2019s returns.<\/p>\n<p>If volume normalizes toward pre-hack levels while wallet growth remains modest, income and trailing yields could retreat sharply. A sustained improvement would require THORChain to convert September\u2019s visibility into recurring flow from traders and integrators rather than rely on episodic bursts generated by unusually large transactions.<\/p>\n<\/div>\n<p>Analysis,DEX,Featured,Hacks,Bitcoin,Bitget,BTC,payments,Thorchain,xrpBitcoin,Bitget,BTC,payments,Thorchain,xrp#THORChain #record #million #September #income #Bitget #hacklinked #trading #surge1791463690<\/p>\n","protected":false},"excerpt":{"rendered":"<p>THORChain\u2019s September income surged as Bitget-linked flows drove the protocol\u2019s busiest stretch in more than a year. The cross-chain exchange generated $3.01 million in system income last month, its highest since March 2025, while swap volume climbed to $2.40 billion, the most since June 2025. Much of that activity was compressed into five days following<\/p>\n","protected":false},"author":1,"featured_media":14225,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[91,3975,285,7310,1887,406,167,245,5302,456,4515,244,230],"class_list":["post-14224","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ethereum","tag-bitcoin","tag-bitget","tag-btc","tag-hacklinked","tag-income","tag-million","tag-payments","tag-record","tag-september","tag-surge","tag-thorchain","tag-trading","tag-xrp"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>THORChain made 63% of its record $3 million September income during the Bitget hack-linked trading surge - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"description\" content=\"Bitget-linked flows helped drive THORChain\u2019s busiest stretch in more than a year after the protocol rejected selective censorship.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=14224\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THORChain made 63% of its record $3 million September income during the Bitget hack-linked trading surge\" \/>\n<meta property=\"og:description\" content=\"Bitget-linked flows helped drive THORChain\u2019s busiest stretch in more than a year after the protocol rejected selective censorship.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptonews.uk.com\/?p=14224\" \/>\n<meta property=\"og:site_name\" content=\"Crypto News: Latest Cryptocurrency News and Analysis\" \/>\n<meta property=\"article:published_time\" content=\"2026-10-08T12:48:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/10\/thorchain-crypto-flow-tunnel.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"\u884c\u653f\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"\u884c\u653f\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=14224\",\"url\":\"https:\/\/cryptonews.uk.com\/?p=14224\",\"name\":\"THORChain made 63% of its record $3 million September income during the Bitget hack-linked trading surge - Crypto News: Latest Cryptocurrency News and Analysis\",\"isPartOf\":{\"@id\":\"https:\/\/cryptonews.uk.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=14224#primaryimage\"},\"image\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=14224#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/10\/thorchain-crypto-flow-tunnel.webp\",\"datePublished\":\"2026-10-08T12:48:10+00:00\",\"author\":{\"@id\":\"https:\/\/cryptonews.uk.com\/#\/schema\/person\/822778c5844e0d16d43dce6630f4f1bf\"},\"description\":\"Bitget-linked flows helped drive THORChain\u2019s busiest stretch in more than a year after the protocol rejected selective censorship.\",\"breadcrumb\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=14224#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cryptonews.uk.com\/?p=14224\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=14224#primaryimage\",\"url\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/10\/thorchain-crypto-flow-tunnel.webp\",\"contentUrl\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/10\/thorchain-crypto-flow-tunnel.webp\",\"width\":1280,\"height\":720},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=14224#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/cryptonews.uk.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"THORChain made 63% of its record $3 million September income during the Bitget hack-linked trading surge\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cryptonews.uk.com\/#website\",\"url\":\"https:\/\/cryptonews.uk.com\/\",\"name\":\"Crypto News: Latest Cryptocurrency News and Analysis\",\"description\":\"Latest Crypto &amp; 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