THORChain Resumes Trading on June 23 After $10.7M Hack, 5-Week Network Halt

BTC-3.48%
ETH-4.86%
BNB-3.62%
AVAX-0.22%
DOGE-5.38%
According to THORChain, the cross-chain protocol resumed trading and network operations on June 23 following a $10.7 million exploit that forced a halt over five weeks ago. The protocol restored signing, churning, liquidity provider actions, and swaps after completing security reviews and infrastructure upgrades. The May 15 attack targeted an Asgard vault and exposed weaknesses in THORChain's GG20 Threshold Signature Scheme. The breach affected assets across nine blockchains including Bitcoin, Ethereum, BNB Chain, Avalanche, and Dogecoin. THORChain chose not to mint new RUNE tokens to cover losses, instead relying on protocol-owned liquidity to minimize token holder dilution.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments