Key facts
- THORChain has resumed all network activity, including trading and swaps.
- The platform experienced a $10.7 million exploit on May 15.
- Network activity was halted for one month following the exploit.
- Security upgrades were implemented to address vulnerabilities.
- Vaults were migrated as part of the security enhancements.
- The GG20 threshold signature scheme was identified as a vulnerability.
THORChain has successfully restored all network activity, including trading and swaps, after a significant security incident. On May 15, the protocol suffered an exploit resulting in a loss of $10.7 million. This event led to a month-long halt in network operations as the team worked to address the vulnerabilities. During the downtime, THORChain implemented crucial security upgrades and migrated its vaults. These actions were specifically designed to mitigate risks associated with its GG20 threshold signature scheme, which was identified as the point of exploitation. With these upgrades in place and the vaults secured, THORChain has now resumed full trading and swap functionalities, marking a return to normal operations.