THORChain’s Network Takes a Breather

In an unexpected turn of events, THORChain has hit the pause button on its network due to concerns over a potential vulnerability. The protocol, a decentralized cross-chain liquidity platform, made the announcement on March 28 via Twitter, assuring users it was acting out of an abundance of caution.

What Happened?

Rumors began swirling when Nine Realms and the dedicated security team THORSec reported credible claims regarding a possible vulnerability affecting THORChain. Following these reports, the decision was made to temporarily halt all trading operations to investigate further.

“Out of an abundance of caution, steps have been taken to halt THORChain globally.” – Nine Realms

Financial Ripples

The sudden halt caused a noticeable dip in THORChain’s native token, Rune (RUNE), plummeting approximately 5% to around $1.32. This decline is part of a broader downward trend, with RUNE showing an 18% decrease over the past month. Investors might want to hold their breath or grab some aspirin as they navigate through these choppy waters.

A History of Halts

Interestingly, THORChain isn’t new to the game of pauses. The protocol suspended network operations back in October 2022 due to a software bug causing issues between individual nodes. After just 20 hours of maintenance, the network bounced back to full functionality. Let’s hope the timeline stays tight this time around!

Back in the Saddle?

As the situation developed, about eight hours post-initial announcement, THORChain updated users with a ray of hope—the vulnerability was deemed credible but manageable. Interestingly, the network was unhalted because no nodes could exploit the vulnerability detected. Sounds like THORChain is back in business—at least for now.

“We can confidently assume that no nodes can exploit the current vulnerability and as such trading has resumed.” – Pluto (9R)

Looking Ahead

What could possibly happen next? Well, the focus remains firmly on addressing the root cause of this concern. With every reported issue, we are reminded of the importance of transparency and prompt action in the crypto world. Stay tuned, crypto enthusiasts; THORChain’s saga continues!