THORChain mainnet halted amid new vulnerability stories

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Cross-chain liquidity protocol THORChain has paused its community because of new claims of a possible community vulnerability.

THORChain took to Twitter on March 28 to announce that it has halted all buying and selling amid stories on a possible vulnerability with a THORChain dependency which will have an effect on the community. The choice was taken as a precautionary measure whereas the stories are verified, THORChain stated.

The announcement got here shortly after social media stories indicated that THORChain’s liquidity platform 9 Realms and the devoted safety group THORSec acquired “credible stories” of a possible vulnerability affecting THORChain. The THORChain community has reportedly been subsequently halted globally.

“Community preemptively paused by NO’s to research the report; updates will comply with,” 9 Realms tweeted.

Amid the information, THORChain’s native token Rune (RUNE) has tumbled about 5%, in accordance with information from CoinGecko. On the time of writing, the token is buying and selling at $1.32, down 18% over the previous 30 days.

Based in 2018, THORChain is a decentralized cross-chain liquidity protocol that permits customers to swap belongings between completely different blockchain networks with out utilizing centralized exchanges. THORChain’s settlement layer at the moment gives swaps between eight chains, together with Bitcoin, Ethereum, Binance Chain, Avalanche, Cosmos Hub, Dogecoin, Litecoin and Bitcoin Money.

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The most recent halt on the THORChain’s community is way from being the primary one. The community was paused in October 2022 on account of a software program bug inflicting “non-determinism between particular person nodes.” The community was subsequently resumed and have become absolutely useful after 20 hours of upkeep.

In 2021, THORChain additionally halted its community after the protocol suffered a breach, with hackers stealing $7.6 million in crypto belongings.

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