THORChain Reports $10.7 Million Stolen in Vault Compromise
Summary
THORChain reported that a compromised vault led to about $10.7 million in protocol-owned funds being stolen. The network halted signing activity; the company said initial indications showed user funds were safe. The investigation is ongoing.
Key points
- THORChain said one of its six vaults was compromised, resulting in a loss of about $10.7 million.
- PeckShield and ZachXBT first reported that more than 36 Bitcoin and about $7 million in other coins had been siphoned.
- THORChain said initial indications showed only protocol-owned funds were affected and user funds were safe.
- The network detected abnormal behavior and automatically halted signing activity, preventing further outbound transactions.
- Trading was halted, and THORChain said its investigation was ongoing.
Article Details
- Victim Organization
- THORChain
- Incident Type
- Vault compromise resulting in the theft of protocol-owned cryptocurrency funds
- Affected Data Size
- THORChain officials estimated the loss at about $10.7 million; reports described more than 36 Bitcoin worth about $3 million and about $7 million in other coins.
- Operational Impact
- Trading was halted, and the network automatically halted signing activity after detecting abnormal behavior to prevent further outbound transactions. The article says user funds were safe and only protocol-owned funds were affected.
- Claim Status
- confirmed