THORChain lost, according to preliminary estimates 4,000 ETH about $8 million as a result of a hacker attack. Originally reported loss of 13,000 ETH.
https://www.runebase.org/news/thorchain-suffers-exploitThey promise to inform the affected users about the details and compensation in the near future.
https://twitter.com/THORChain/status/1415813696857591813UPD: Official update from the THORChain team in the telegram channel
https://t.me/thorchain_orgMCCN Exploit Update
Loss:
Approx ~$4.9mm USD was taken in the exploit, far less than the intitial figures posted earlier. A granular breakdown is being developed by the community.
Method:
ETH Bifrost was tricked using a custom wrapper to read a deposit amount of 200 when it was actually zero. More details will be provided in the upcoming post mortem blog.
Discovery:
The issue was discovered by a community dev and anonymous nodes voluntarily used make halt command to stop their nodes. Once more than 1/3rd nodes had been halted, the network itself was halted. This was a decentralized action taken by node operators to protect the network.
Recovery:
1. Release the patch & restart the network > block pending outbounds > restore solvency.
2. Donate funds back to the ETH pool to restore lost funds to LPs
3. Release auto-solvency checker as a future preventative measure
4. Continue working with security firms to audit.
This is a disappointing moment for all, but LPs and Nodes should be unaffected after all is recovered (the funds will be restored). The network will be stronger and more resilient.
The THORChain community appreciate the inflow of support. More info to come in due course.
Yes, exactly it happened and was officially announced from their team. Their big response.
This is unfortunate because not only does it cause loss to investors and the project's confidence, but it also covers this negativity on the entire market, which is already in a bad state.
I still haven't forgotten the crazy moment with Titan, even though they later announced their mistake but it did a lot of damage. I've given up on polygons for now.
