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THORChain mainnet halted amid new vulnerability stories

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

THORChain took to Twitter on March 28 to announce it has halted all buying and selling amid stories of 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 mentioned.

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

“Network preemptively paused by NO’s to investigate the report; updates will follow,” 9 Realms tweeted.

Amid the information, THORChain’s native token Rune (RUNE) has tumbled about 5%, in line with knowledge 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 provides swaps between eight chains, together with Bitcoin, Ethereum, BNB Chain, Avalanche, Cosmos, Dogecoin, Litecoin and Bitcoin Money.

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The most recent halt on THORChain’s community is just not the primary. The community was paused in October 2022 as a consequence of a software program bug inflicting “non-determinism between individual nodes.” The community resumed and have become totally purposeful 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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