THORChain announced the restoration of its network after a month‑long series of security verifications and upgrades, ending the trading halt triggered by a $10.7 million exploit on May 15.
Network Restoration
In a Tuesday post on X, THORChain confirmed that trading, transaction signing, swap functionality, and liquidity‑provider operations have been fully reactivated. The announcement highlighted that all core services are once again accessible to investors and developers. Market participants can now resume cross‑chain activities without interruption.
Security Overhaul
The protocol reported that most of its vaults passed safety checks through the KeyVerify system, while legacy vaults were retired in favor of a new vault architecture. THORChain labeled this migration as the “most significant milestone” of its recovery, noting that every node’s keyshare was verified on the preceding Friday. The exploit was traced to a flaw in the GG20 threshold‑signature scheme, which permitted a malicious operator to reconstruct a private key via progressive key‑material leakage, prompting an emergency patch on May 20.
Implications for Investors
As one of the largest