THORChain has again halted their networks as they are taking actions to improve the precautionary measures upon verifying potential vulnerability reports.
THORChain the cross-chain liquidity protocol has now paused their network yet again to verify the new claims of potential vulnerabilities on the network. THORChain took it to their twitter on 28th March to announce that they are pausing their tradings due to new reports of potential vulnerability with a dependency that might affect the network.
This announcement from THORChain did not take much time to arrive after the recent social media report’s indication of vulnerabilities about the platform and THORSec, the security team. The network has reportedly halted globally.
The network has paused preemptively as per the tweets of Nine Realms. Despite such news, the native toke of the firm, Rune has only ruffled by 5% as per the CoinGecko data. This token at the time of weiting was trading on 1.32 USDs.
THORChain Mainnet Halted Again Cause Of New Reports
Founded in 2018, it is a cross-chain liquidity protocol which allowed the users to swap their assets between different networks of blockchain without using the centralized exchanges. The settlement of THORChain layer currently only offers swaps between different chains that also includes BTC, BNB chains, ETH, Cosmos, Avalanche and more.
The recent stop on the network of the firm has not been their first. It has paused several times during last October as a software bug attacked the firm and cause non-determinism between different nodes. It started operating and went fully functional after twenty hours of maintenance.
In 2021, THORChain halted their operations after they suffered a breach and the hackers stole 7.6mn USDs in crypto market.