Thorchain suffered an estimated $10 to $11 million exploit on Friday, after attackers used vault churn address poisoning to redirect funds during a routine migration process across multiple blockchains. Thorchain Funds Compromised Onchain investigator ZachXBT first flagged the incident via his Telegram channel, placing initial losses above $7.4 million before revised estimates pushed the total […]
]]>THORChain, the decentralized liquidity protocol that allows for cross-chain swaps, is at a crucial juncture. After a spate of recent misfortunes, the cryptocurrency community is questioning the protocol’s future and—by extension—a future for cross-chain swaps. The protocol has amassed a $200M debt, and its token, $RUNE, is in freefall. Meanwhile, the “ecosystem” as a whole seems to be in chaos. On top of all this, THORChain has recently announced that it will cease paying out block rewards to liquidity providers and nodes. This is an enormous red flag and calls into question the long-term survival of THORChain. THORChain’s Revenue Model
The post Is THORChain in Crisis? Examining the $200M Debt, Falling $RUNE Price, and the End of Block Rewards appeared first on The Merkle News.
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Bitcoin’s bounce back to $68,000 raises the chance of a rally in SOL, DOGE, RUNE and BGB.
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Ledger will allow users to swap assets across chains in its app using the decentralized liquidity protocol THORChain.
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Bitcoin is en route to locking in a historic monthly performance, which could set a bullish path for XRP, TAO, RUNE, and SEI.
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DeFi project Kujira merged with three ecosystem partners to create an alliance to build THORChain’s app layer, backed by a new token.
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Over $35 million in funds from a cryptocurrency exchange hack in May has reportedly been moved to the online marketplace “Huione Guarantee” this month.
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Bitcoin’s recent rally toward $40,000 could further fuel traders’ bullish sentiment for KAS, RUNE, MNT and RNDR.
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BTC price advances toward $35,000, potentially opening the door for ETH, APT, QNT and RUNE to move higher.
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Thor Technologies has been instructed to pay a sum of $903,193.06, which encompasses a disgorgement of $744,555, and prejudgment interest amounting to $158,638.06.
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