Summary
- THORChain developers have paused the network amid potential vulnerability concerns.
- The validity of the claim is currently being assessed and verified.
- The native token RUNE dropped by nearly 5% in wake of the development.
THORChain Mainnet Halted Amid Potential Vulnerability Concerns
The operators behind decentralized cross-chain liquidity protocol – THORChain – preemptively paused the network after claims of potential vulnerability made rounds on social media. According to the announcement, the vulnerability in question is speculated to be associated with THORChain dependency that may affect the overall network. The team decided to pause trading while carrying out an investigation into its validity. Initial reports suggested that Nine Realms, along with THORSec security team received „credible reports“ of the vulnerability.
RUNE Price Impact After Network Halt
In wake of this development, THORChain’s native token, RUNE, dropped by nearly 5% and was trading at $1.32 at press time. The DeFi protocol suffered several hacks since its inception in 2018. The latest security breach took place in July wherein attackers drained around $8 million worth of Ether after attacking ETH Router.
Previous Outages and Security Breaches
Last October, THORChain’s network suffered a 20-hour-long outage as a result of a software bug which was caused due to string manipulation issue. While the team assured that necessary funds were available from treasury to compensate all victims, it later notified community that attackers limited their damage “seemingly out of respect” for chain governance rules.
Investigation Ongoing
Out of an abundance of caution, THORChain decided to pause trading while carrying out investigation into validity regarding this alleged vulnerability concern . Currently , developers are assessing and verifying claim . Meanwhile , users are advised not to withdraw or deposit any assets until further notice . < h2 >Conclusion
THORChain developers have taken proactive approach towards protecting user funds as they investigate potential vulnerability concerns associated with their platform . As more news comes out on this matter , we will keep you updated .