THORChain has restored full functionality after being offline for more than five weeks, following a May exploit that led to roughly $10.7 million in losses from one of its Asgard vaults. Core network activities, including asset swaps, liquidity provision, validator signing, and vault operations, are now running again.
The suspension began after a vulnerability was flagged by blockchain investigator ZachXBT and security firm PeckShield. The incident, which occurred on May 15, affected a single vault holding assets such as Bitcoin, Ethereum, BNB Chain, and Base, while the platform said its other five vaults remained secure.
Security overhaul and system verification completed
Before relaunching, THORChain conducted extensive checks across its infrastructure. Every vault was reverified, and all node keyshares were audited to ensure system integrity. The recovery effort involved collaboration between node operators, developers, and contributors from Maya Protocol.
Developers also introduced upgrades aimed at addressing the root cause of the exploit, including changes to the vault architecture and new validation mechanisms designed to prevent similar incidents. The restart process was intentionally gradual, prioritizing network stability over speed.
Market reaction remains muted
Despite the return to full service, the market response has been subdued. The protocol’s native RUNE token showed little price movement in the hours following the announcement, with trading activity reflecting a cautious stance among traders.
Daily volume hovered around $16 million, suggesting participants are waiting to see how stable the system remains after the restart. The recovery plan notably avoided issuing new tokens, preventing dilution of existing holdings.
Roadmap includes privacy assets and new features
THORChain is now moving forward with planned upgrades and expansions. Native Monero swaps are currently in live testing and are expected to launch publicly soon. Support for Zcash is also in development, alongside updates such as dynamic transaction fees and liquidity improvements.
These additions could broaden the platform’s reach, particularly as access to privacy-focused assets becomes more limited on centralized exchanges. However, such integrations may also draw increased regulatory scrutiny, adding another layer of complexity as THORChain resumes normal operations.
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