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Tuesday

27 July 2021

DeFi darling ThorChain (RUNE) suffers multi-million dollar exploit

DeFi darling ThorChain (RUNE) suffers multi-million dollar exploit


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ThorChain, a decentralized finance (DeFi) token swap protocol based on the Cosmos blockchain, lost roughly $4.8 million worth of Ethereum (ETH) from its liquidity pools to a hacker attack today.

In their response, ThorChain developers pointed out that only the platform’s Ethereum liquidity providers (users who locked their ETH on the protocol to help facilitate swapping) suffered losses.

As such, roughly $5 million worth of ETH will be taken out of the ThorChain treasury and used to reimburse liquidity providers that were affected by the hack

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