Post
Topic
Board Altcoin Discussion
Re: Thorchain why was it hacked? Review.
by
Coin-1
on 25/07/2021, 16:47:04 UTC
What happened in Thorchain is truly terrible. But we must not forget that this is a market that is always volatile and very young. I am sure that the developers of Thorchain will do everything in their power to prevent this from happening in the future.

As far as I understand, the team is currently unable to find the critical issues exploited by these "white hat" hackers, so I wouldn't be surprised if the Thorchain DeFi protocol suffers the third sophisticated attack in the foreseeable future.

The team promised to take funds from the treasury and compensate all the victims involved. I just looked at Coingecko and noticed that the RUNE price has already dropped to $3.36.

The only thing the team can do is temporarily halt their ETH router and hire high-profile professionals and programmers to audit the source code of the Thorchain decentralized exchange. The main network must be protected from creating a fake router and Asgard.

In general, such serious altcoin hacks can hit the global cryptocurrency market. Sad