Key facts
- THORChain has resumed all network activity after a trading halt of over a month.
- The halt followed a $10.7 million exploit attributed to a vulnerability in its GG20 threshold signature scheme.
- Security upgrades and a vault migration were implemented to fix the vulnerabilities.
- The protocol plans to launch native swaps for Zcash and Monero, followed by Bittensor.
THORChain has resumed all network activity, including trading, signing, swaps, and liquidity provider actions, following a security upgrade and vault migration implemented after a $10.7 million exploit on May 15. The exploit, which prompted a month-long halt, was attributed to a vulnerability in the protocol's GG20 threshold signature scheme that allowed a malicious node operator to reconstruct a private key.
To address the issue, THORChain implemented an emergency patch on May 20, followed by an upgrade on June 9 that fixed the exploited vulnerability. A further upgrade on June 11 introduced additional stability improvements and fixes to the KeyVerify protocol. On Sunday, the protocol announced it had confirmed the safety of most vaults through KeyVerify and retired legacy vaults as part of the migration, calling it a significant milestone in its recovery. Verification of every node's keyshare was completed on Friday.
