THORChain Confirms $10 Million Hack, Opens Recovery Portal
Summary
- THORChain acknowledged a $10 million hack and began compensation procedures for affected users.
- The THORChain Foundation opened a recovery portal for affected users to check their estimated compensation and begin the reimbursement process.
- Affected users can file compensation claims over the next 21 days, and any unclaimed assets will be transferred to the protocol insurance fund.
Forecast Trend Report by Period
THORChain acknowledged a hack that caused about $10 million in losses and has started a compensation process for affected users.
The THORChain Foundation said in a post on its official social media account on May 16 that it had opened a recovery portal for users impacted by the breach. Affected users can check their estimated compensation and begin the reimbursement process through the portal.
THORChain said the attack was detected at 2:14 a.m. UTC on May 11. Node operators identified abnormal withdrawal transactions and stopped transaction and withdrawal signing about eight minutes later.
The attacker stole a total of 36.75 Bitcoin, as well as tokens on Ethereum, BNB Chain and Base. Losses are estimated at about $10 million, and 12,847 wallets were affected.
Affected users can file compensation claims over the next 21 days. The deadline is June 4, and any unclaimed assets will be transferred to the protocol's insurance fund.
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