Third attack on THORChain In A Month, Lost $8 Million

THORChaun announced another attack on their platform which was tricked through different contract protocols. This attack resulted in a loss of a total $8 million.

It seems THORChain has lots of faulty support to run their platform because day by day new new vulnerability are detected by hackers and attacking again and again on THORChain. This is the third attack on THORChain within the one month time interval. 

Related: THORChain Faces Attack & Lost $5M Worth Of ETH

In the morning of 23 July, THORChain informed the community that they faced a huge attack on their platform which exploited $8 million. 

They shared this information through tweet 

According to the information shared by the THORChain team, hackers tricked their platform through their own created smart contract protocol. They did a fake deposit ( actually didn’t deposit any funds) and then they got a refund of the deposit fund. In this way they tricked at a huge level and stole around $8 million of funds. 

The THORChain team believes that they are not blackhat hackers, they are white hat hackers and also they know blockchain based smart contract development work perfectly and also they were able to steal more enough fund but they didn’t.

Hackers also left a note for THORChain team to improve their platform and also they claimed that they even can steal more than $8 million because they were able to steal ETH, BTC like few coins but they didn’t. 

Hackers also claimed that they can fix these issues if they can reach out with a 10% bounty reward.

Now THORChain decided to halt its network chain pending security audits and that liquidity providers would be returned from their treasury. And also the team leaves a thankyou note for the community to support them in such critical issues.

“It is a tough time for the community and project, and the pain is real.” 

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