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Cryptocurrency

Thorchain Attack Drains Protocol of $25 Million in Ethereum

Crypto hacker gID 4

Thorchain has been struck by an attack that drained about 13,000 ETH ($25.1 million) from the protocol.

“While the treasury has the funds to cover the stolen amount, we request the attacker get in contact with the team to discuss return of funds and a bounty commensurate with the discovery,” network administrators wrote in the community’s Telegram group.

It continued by saying that users’ funds “will be available when the issue has been patched & the network resumes.” In the meantime, it said, “The network has been halted.”

Thorchain is a protocol for trading crypto assets, such as Bitcoin and Ethereum, across different blockchains without using a middleman.

This is a developing story. It will be updated.

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