GoPlus Challenges THORChain's Level of Decentralization and Calls for Restrictions

GoPlus Security has questioned THORChain's decentralization by saying validators can jointly control cross-chain funds through the threshold-signature-system vault and node mechanism, and that pausing signatures or using Mimir governance can shape asset movement. The claim puts a simple question to users: if a cross-chain network can coordinate such control, how decentralized is it when funds move or are stolen?

Validator control sits at the center of the dispute

The criticism says THORChain's threshold-signature-system vault and node mechanism give validators joint control over cross-chain funds. It also says validators may intervene by pausing signatures or acting through Mimir governance. That matters because cross-chain networks are often judged by whether their rules can be changed, delayed, or blocked by coordinated participants rather than enforced only by transparent code.

Bybit and Bitget flows sharpen the scrutiny

GoPlus pointed to activity after the Bybit attack, saying about 499,000 ETH was moved through THORChain in 10 days, with most converted to BTC. That routing generated about $5.9 billion in trading volume and about $5.5 million in fees. The criticism also says about 101.5 BTC was transferred out via THORChain in a recent Bitget incident.

The ask: restrict clearly marked stolen-fund addresses

The main proposal is that THORChain should restrict clearly marked stolen-fund addresses. The issue is not only fee volume or routing speed. It asks whether a network can use validator and governance tools to slow or block stolen assets, and whether doing so weakens the case for its decentralization.