I sat down with Chad from THORChain , the protocol that literally invented cross-chain liquidity , for a raw, no-fluff conversation about what it really takes to secure a decentralized exchange handling over $125 billion in volume. We dig into why security audits give people false confidence, how AI is supercharging hackers right now, and what THORChain's autonomous halt systems actually do when things go sideways. We also get into the Bitget $350M hack, what it means when funds flow through decentralized protocols, and the deeper philosophical question , where do you draw the line between censorship resistance and protecting users? Chad also shares what's next for THORChain, including Monero and Zcash support, faster swaps, and why he believes DEXs will inevitably outcompete centralized exchanges on every metric that matters. DISCLAIMER Nothing mentioned in this podcast is investment advice and please do your own research. It would mean a lot if you can leave a review of this podcast on Apple Podcasts or Spotify and share this podcast with a friend. Be a guest on the podcast or contact us - https://www.web3pod.xyz/ CONNECT THORChain Website: https://thorchain.org/ THORChain Twitter/X: https://x.com/thorchain THORChain LinkedIn: https://www.linkedin.com/company/thorchain/ Web3 with Sam Kamani Podcast: https://www.web3pod.xyz/ KEY POINTS WITH TIMESTAMPS • [00:00] Sam introduces the episode , THORChain, the Bitget $350M hack, and what's really going on with security in crypto • [01:38] Chad joins and explains what makes THORChain different , the protocol that invented cross-chain liquidity • [03:33] Why THORChain was the first true decentralized exchange for native Bitcoin, Litecoin, and Doge , and Monero coming next • [04:41] Security lessons from $125B in volume , why a cross-chain DEX is orders of magnitude harder to secure than Uniswap • [05:40] A wave of hacks hits the whole sector: Maya, THORChain's app layer, NIR, Chainflip , all within weeks • [06:53] Why audits are the lowest standard in security , and why having an on-staff red/blue team matters far more • [08:07] How THORChain's autonomous halt system works , the protocol can stop itself before humans even notice • [10:36] Managing the trilemma: decentralization, security, and usability , how validator voting and pause mechanisms balance it all • [13:32] The Terra collapse as a lesson: why you need fast-response mechanisms, not just slow governance • [15:23] Chad's take on the Bitget $350M hack and the tension between censorship resistance and stopping stolen funds • [16:38] Why decentralization is a requirement for liberty , and what Bitcoin gave the world for the first time in history • [20:00] Historical precedents: the Ethereum DAO hack fork and Bitcoin's 2010 overflow bug , when protocols have rolled back transactions • [23:13] The biggest underestimated security risk in DeFi right now: AI lowering the bar for black-hat hackers • [25:17] Macro view: AI pulling capital away from crypto, the Genius Act, TradFi merging with DeFi, and where the cycle stands • [27:23] What's next for THORChain , Zcash now, Monero next, more chains, faster swaps, better quotes • [28:17] Why DEXs will inevitably beat CEXs on speed, cost, and accessibility , and why Chad is excited to be part of that future