Cross- chain liquidity protocol THORChain issued an emergency announcement today, stating that its network transactions have been completely suspended, mainly due to the detection of a hacker intrusion into a vault.
According to the official preliminary investigation, the network automatically detected abnormal behavior earlier today and immediately activated the mechanism to stop the signature activity, successfully blocking any subsequent possible withdrawal transactions.
The estimated loss is $10.7 million, but user funds have not been affected.
THORChain provided a detailed account of the current damage in its announcement:
- Scope of the intrusion: There are six Asgard vaults across the network, one of which appears to have been compromised.
- Asset loss: The preliminary estimate of the loss is approximately US$10.7 million .
- Funds ownership: Initial indications suggest that the impact is primarily on "funds held in the agreement," individual users' assets are currently safe , and no users' swap transactions have been affected.
To maintain network security, THORChain has severely punished the node guarding the affected vault, and its staked RUNE has been slashed . Furthermore, node replacement (Churn) activities have been suspended, and any new chain additions or operations requiring Churn will be postponed until the network is confirmed to have returned to stability.
Calling on node operators: Immediately inspect your infrastructure.
The THORChain contributor team is currently actively investigating the root cause of the vulnerability and working on a fix. The official team is also appealing to the global community, urging all node operators to immediately take the following actions:
- Thoroughly examine your infrastructure, server hosts, key management system (KMS), and operational security (OpSec).
- Operators of affected vaults are required to securely provide Bifrost logs to the development team for analysis.
- If any suspicious signs are discovered, they should be reported immediately on the official Discord channel.
At the time of writing, THORChain's token RUNE has fallen below $0.50 due to the hacker attack.
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