Bitcoin News
By Sakamoto Nashi
1 / 15
What Actually Happened. Cross-chain protocols are hard to secure. That's basically the core problem here.
2 / 15
THORChain Has Been Here Before. It's not the first time. THORChain got hit multiple times in 2021, taking significant losses…
3 / 15
Why the Trading Halt Matters. Stopping the platform is a damage-control move, but it's also a trust move.
4 / 15
What to Watch From Here. Three things worth tracking closely. First, the audit results.
5 / 15
The tension between innovation and security in the decentralized finance realm is yet again thrust into the spotlight.
6 / 15
THORChain stopped all trading after blockchain investigator ZachXBT flagged a suspected $10 million exploit. The pause was fast — probably within hours of ZachXBT's alert.
7 / 15
Cross-chain protocols are hard to secure. That's basically the core problem here. Each blockchain runs its own security logic, and when you stitch four of them together into one…
8 / 15
ZachXBT spotted it first. That's worth noting. Not an internal security team, not an automated alert that fired inside THORChain's own systems — an outside observer watching…
9 / 15
The $10 million figure is what's been reported. Unclear yet whether that's the final tally.
10 / 15
It's not the first time. THORChain got hit multiple times in 2021, taking significant losses across separate incidents that forced a serious rethink of its security architecture.
11 / 15
Zoom out further and the pattern gets darker. The 2021 Poly Network hack drained over $600 million in what was, at the time, one of the largest DeFi exploits ever recorded.
12 / 15
More context: Poland Passes MiCA as $96M Zondacrypto Probe Shakes Crypto Sector
13 / 15
DeFi didn't fix that problem after Poly Network. It didn't fully fix it after THORChain's 2021 incidents either. And here we are again.
14 / 15
Stopping the platform is a damage-control move, but it's also a trust move. Users watching a suspected exploit unfold in real time want to see someone hit the brakes — not keep…
15 / 15
But the halt creates its own problems. Liquidity providers are locked out. Traders can't execute.
The Currency Analytics
Want the full story?