Latest Vulnerability Reports Become Cause of THORChain Halting its Mainnet Protocol

As per the latest reports, THORChain has decided and has paused its network. The liquidity protocol provides cross-chain support to the users and has provided an update on the matter of why it has halted the protocol.

According to the officials at THORChain, they seem to have established a new vulnerability with their network. There is a great potential that the vulnerability may end up getting used by hackers to exploit the network.

Therefore, they have decided to deal with the situation and the best solution they had at the moment was to pause their mainnet.

THORChain’s Announcement on the Vulnerability

It was on March 28 when the officials at THORChain shared an update on the matter. They revealed that they had halted all the services they were offering to the users for trading.

They confirmed that their THORChain dependency vulnerability has the potential to let the hackers carry out an exploit or exploit on their protocol.

Therefore, they proceeded with halting their mainnet, thus, the trading services are no longer available for the users. Halting the services was one of the precautionary measures they had in place to deal with such scenarios.

They have confirmed that for now, they are going through all the reports and updates pertaining to the matter. Until the situation has been resolved, they may keep the protocols off the grid.

Social Media was Already Active on the Matter

According to the source, the social media platforms had already started talking about the reports of THORChain’s vulnerability, even before the network broke the news.

The sources claimed that the team at THORSec and Nine Realms had already received the reports pertaining to the network’s vulnerability.

THORSec is the team dedicated to the network’s security while Nine Realms is the team managing the liquidity platform of THORChain.

It was confirmed in the report that the mainnet was under a great threat as long as the vulnerability was there. Right after the social media started to talk about the reports, THORChain went ahead making the official announcement on Twitter.

Impact on RUNE

Just as the reports came out about THORChain’s vulnerability and its pause, the native token of the protocol took a hit.

The native token of the THORChain protocol is RUNE, whose price has dipped to $1.31. The trading price of the token has fallen by 5%, bringing it down to this level.

In the past 30-days, the trading price of the token has taken plunged by 18%, making the situation a lot worse for the token.

According to the analysts, as long as the network remains in “pause mode”, the situation will worsen for the token. The protocol has to work on a resolution quickly and stop the protocol from taking any more hits.