THORChain Restarts Trading After $10.7M Exploit; Vaults Quarantined and Keyshares Verified

Trading is live again on THORChain after a month-long shutdown brought on by a mid-May exploit that siphoned about $10.7 million from one vault. The protocol announced on June 23 that swaps, signing, churning, secured and trade assets, and liquidity-provider actions are fully restored. “Trading is live again on THORChain,” the team wrote, stressing the restart was deliberate and security-first: “Every vault verified, every keyshare checked.” Why it stopped - On May 15 a vulnerability in THORChain’s GG20 threshold signature scheme allowed a newly churned malicious node operator to reconstruct a full private key via progressive key material leakage. The attacker drained one vault; four others were not affected. - Automatic solvency checks caught the imbalance within minutes, prompting the network to halt signing and trading across multiple chains. What the recovery involved - Validators approved the v3.19.0 upgrade, which added compromised-vault quarantine, keyshare checks and recovery logic tied to ADR028. - Most vaults were validated through KeyVerify; remaining legacy vaults were migrated to a new vault set. - Every node’s keyshare was checked before services were restored. - THORChain says the approach prioritized patching and operational safety over rushing back online; longer-term cryptographic changes remain under review. Market reaction and metrics - Crypto.news market data showed RUNE trading at $0.419456 on June 23, down 0.2% over 24 hours, up 2% over seven days, with $16.29 million in daily volume. - The token avoided a sharp selloff on restart day but remains well below its all-time high. Roadmap and next steps - THORChain told users “XMR is coming,” saying native Monero swaps are already working end-to-end in testing and a live launch is imminent. Zcash support is expected to follow; earlier reporting indicated ZEC could arrive within two weeks of the restart. - The protocol also plans dynamic fees, deeper liquidity, and later integrations such as Bittensor after stability is reestablished. What to watch now - The immediate test is operational stability: whether swaps stay smooth, vault security holds under live traffic, and liquidity returns. - Community scrutiny will likely continue over the decision to patch GG20 rather than replace it immediately, while governance and security teams weigh longer-term cryptographic fixes. The restart gives THORChain a clean slate to rebuild cross-chain trading activity—but the network’s ability to maintain uptime and trust under real-world use will determine how quickly users and liquidity return. Read more AI-generated news on: undefined/news

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THORChain Restarts Trading After $10.7M Exploit; Vaults Quarantined and Keyshares Verified

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