THORChain Halts Trading Amid Possible Security Threat
THORChain has announced that it is currently investigating a possible vulnerability after receiving reports.
As a precautionary measure, trading has been temporarily halted while the platform conducts its inquiry.
Although the veracity of the claims is yet to be confirmed, THORChain is taking steps to avoid potential loss of funds. Meanwhile, users can still utilize other providers to access the wallet’s swap and bridge services.
RUNE, the platform’s native token, has experienced a decline of over 5% in value within the last 24 hours, trading at approximately $1.30 at the time of writing.
This is not the first time that THORChain has suspended its blockchain operations. In October of last year, the platform ceased operations for over 20 hours due to non-determinism between individual nodes.
Additionally, the platform recently suffered two significant breaches in July 2021, prompting peer review by audit partners.
Despite these issues, THORChain has over $112 million in total value locked on the DeFi front, according to data by DefiLlama.