THORChain Suffers Another Major Hack Totaling $8M

This article has been indexed from E Hacking News – Latest Hacker News and IT Security News

Popular cross-chain liquidity exchange THORChain has been hit by another exploit, this time costing around $8 million, suffering a second security breach in two weeks. 

After the hack, THORChain tweeted that it suffered a “sophisticated attack” on its ETH router where nearly $8 million were stolen from them.

“THORChain has suffered a sophisticated attack on the ETH Router, around $8m. Hacker deliberately limited their impact, seemingly a Whitehat. ETH will be halted until it can be peer-reviewed with audit partners, as a priority. LPs in the ERC-20 pools will be subsidized,” THORChain tweeted.

The ETH router controls the movement of Ethereum-based tokens through THORChain cross-chain decentralized exchange.

“The Whitehat requested a 10% bounty – which will be awarded if they reach out, and they should be encouraged to do so.”

Threat actors warned that they discovered “multiple critical issues” and could have struck much greater damage, such as embezzling large amounts of Bitcoin, Binance Coin, Lycan coin, and many other cryptocur

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