THORChain’s September income surged as Bitget-linked flows drove the protocol’s 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 the Bitget hack. About $1.37 billion, or 57% of September’s 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.

THORChain said the surge coincided with funds linked to the Bitget exploit moving through the network. It explained:

“Between September 25 and 29, daily volume ran between roughly $190M and $460M as funds linked to the Bitget exploit moved through the network.”

The concentration nevertheless highlights the economic consequences of a position THORChain defended as Bitget sought to limit the movement of stolen funds.

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.

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.

5 million was ultimately transferred to attacker-controlled addresses during the September breach.

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