THORChain Resumes Trading After $10.7 Million Attack

Odaily, the decentralized cross-chain liquidity protocol THORChain has resumed trading after being down for over five weeks following a May attack. Signing, swapping, liquidity provider operations, and redemptions have all been restored.

On May 15, blockchain investigator ZachXBT and security firm PeckShield identified that the protocol had likely been exploited, prompting THORChain to halt trading. The vulnerability resulted in a loss of approximately $10.7 million from one of its six Asgard vaults, while the other five vaults were unaffected.

THORChain stated that each vault has now been verified, and every key share has been cross-checked. Native Monero swaps are currently undergoing end-to-end testing and will be launched subsequently. (The Block)