THORChain Resumes Trading After $10.7M Exploit and Security Upgrades

THORChain has resumed trading and all network activities after a month-long halt. The pause was necessary to address vulnerabilities that led to a $10.7 million exploit. The team has since implemented multiple security upgrades and completed a vault migration to enhance the network's safety.

The exploit targeted a vulnerability in THORChain's smart contracts. The team took immediate action to pause all network activities and conducted a thorough audit to identify and fix the issues. The security upgrades include enhanced smart contract protocols and improved monitoring systems to prevent future exploits.

This resumption is significant for users who rely on THORChain for decentralized trading and asset swaps. The security upgrades aim to restore confidence in the platform, ensuring that users can trade with greater assurance of safety. The team has emphasized transparency and community involvement in the recovery process, which is crucial for maintaining trust.

Users should monitor THORChain's official channels for updates on further security measures and network improvements. The team has indicated that continuous monitoring and community feedback will be key to maintaining the platform's security. Read more → https://cointelegraph.com/news/thorchain-resumes-trading-month-10m-exploit?utm_source=rss&utm_medium=rss&utm_campaign=rss