Thorchain Attack Drains Protocol of $25 Million in Ethereum

Jul 15, 2021 | Decrypt News | 0 comments

thorchain-attack-drains-protocol-of-$25-million-in-ethereum

Thorchain has been struck by an attack that drained about 13,000 ETH ($25.1 million) from the protocol.

“While the treasury has the funds to cover the stolen amount, we request the attacker get in contact with the team to discuss return of funds and a bounty commensurate with the discovery,” network administrators wrote in the community’s Telegram group.

It continued by saying that users’ funds “will be available when the issue has been patched & the network resumes.” In the meantime, it said, “The network has been halted.”

Thorchain is a protocol for trading crypto assets, such as Bitcoin and Ethereum, across different blockchains without using a middleman.

This is a developing story. It will be updated.

News Source from Decrypt.co

Related Articles

Number of Cryptocurrency ATM Locations Soars Past 24K Worldwide

Number of Cryptocurrency ATM Locations Soars Past 24K Worldwide

The number of cryptocurrency ATMs has surpassed 24,000 globally. Out of 75 countries with crypto ATMs, the U.S. tops the list with the most locations. 24K+ Cryptocurrency ATMs Worldwide The number of cryptocurrency ATMs has exceeded 24,000 globally, according to the...

Here are the 12 biggest crypto hires thus far in 2021

Here are the 12 biggest crypto hires thus far in 2021

Quick Take There has been a big increase in the flow of talent from Wall Street to the crypto world. We take a look at the 12 biggest moves that have happened so far this year. This feature story is available to subscribers of The Block Daily. You can continue reading...

Crypto Companies Establish Presence, Hire Talent in Ireland

Crypto Companies Establish Presence, Hire Talent in Ireland

With a friendly attitude towards financial innovation, the Republic of Ireland has become a desired destination for fintech businesses that need unimpeded access to the common European market. Cryptocurrency companies have been opening offices in the EU member state...

Pin It on Pinterest

Share This