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Blockchain Protocol Thorchain Loses 4K Ether in Attack
The company said it will provide a more detailed assessment of the breach soon.
Thorchain suffered an attack that drained about 4,000 ETH from the crypto trading protocol, according to a Thursday posting on the Runebase website.
STORY CONTINUES BELOW
The company tweeted that it would provide a "more detailed assessment and recovery steps" soon.
At this stage the estimate is around ~4000 ETH worth of assets (ETH/ERC20) was taken, not 13k ETH.
ā THORChain #BRINGBACKMCCN (@THORChain) July 15, 2021
More detailed assessment and recovery steps will be announced soon.
The users who suffered (LPs) will be made whole in the coming weeks. https://t.co/LR2x8VZ2kx
Network administrators wrote earlier in the day in a Telegram posting the loss was more than three times that amount but updated the figure. They also wrote that the network had been halted while developers investigated the extent of the breach.
"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," the administrators wrote on Telegram.
Read more: Thorchain Is Ready to Grease the Wheels of Crypto-to-Crypto Trading
James Rubin
James Rubin was CoinDesk's Co-Managing Editor, Markets team based on the West Coast. He has written and edited for the Milken Institute, TheStreet.com and the Economist Intelligence Unit, among other organizations. He is also the co-author of the Urban Cyclist's Survival Guide. He owns a small amount of bitcoin.
