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Thorchain Attack Drains Protocol of $25 Million in ETH

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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 BTC and ETH, across different blockchains without using a middleman.

This is a developing story. It will be updated.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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