{"id":300439,"date":"2021-07-16T05:23:57","date_gmt":"2021-07-16T02:23:57","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/thorchain-loses-7-6m-in-chaosnet-exploit-offers-hacker-a-bounty-to-return-funds\/"},"modified":"2021-07-16T05:23:57","modified_gmt":"2021-07-16T02:23:57","slug":"thorchain-loses-7-6m-in-chaosnet-exploit-offers-hacker-a-bounty-to-return-funds","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/thorchain-loses-7-6m-in-chaosnet-exploit-offers-hacker-a-bounty-to-return-funds\/","title":{"rendered":"# ThorChain loses $7.6M in \u2018Chaosnet\u2019 exploit, offers hacker a bounty to return funds"},"content":{"rendered":"<p>&#8220;<strong># ThorChain loses $7.6M in \u2018Chaosnet\u2019 exploit, offers hacker a bounty to return funds <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvNWE1ZDYyY2MtOGQwMS00MDA3LTgzYmEtZDE4MTI5NzAyM2MwLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>Popular cross-chain decentralized exchange, ThorChain, has suffered a multimillion-dollar breach.<\/p>\n<p>Estimates as to the scale of the damage vary, with ThorChain revising the initial estimate that 13,000 ETH (worth $25.1 million) had been stolen down to 4,000 ETH (roughly $7.6 million) as a ballpark for damages. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">At this stage the estimate is around ~4000 ETH worth of assets (ETH\/ERC20) was taken, not 13k ETH. <\/p>\n<p>More detailed assessment and recovery steps will be announced soon. <\/p>\n<p>The users who suffered (LPs) will be made whole in the coming weeks. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/LR2x8VZ2kx\">https:\/\/t.co\/LR2x8VZ2kx<\/a><\/p>\n<p>\u2014 THORChain #ACTIVATETHESYNTHS\u26a1\ufe0f (@THORChain) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/THORChain\/status\/1415813696857591813?ref_src=twsrc%5Etfw\">July 15, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>In the ThorChain community Telegram channel, administrators have indicated the project has the funds needed to cover users\u2019 stolen assets, but articulated a preference for the hacker to return the stolen funds in exchange for a bug bounty.<\/p>\n<p>\u201cWhile 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,\u201d a Telegram post stated, adding that user funds \u201cwill be available when the issue has been patched &amp; the network resumes.\u201d<\/p>\n<p>ThorChain has since tweeted that its preliminary roadmap to recovery is underway, announcing that after the vulnerability is patched and the network restarted, Ether will be donated to liquidity provider pools to reimburse impacted users. From there, the team plans to engage security firms to have its contracts audited. <\/p>\n<p>As of this writing, the ThorChain network remains halted.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">This is a dis<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ointing moment for all, but LPs and Nodes should be unaffected after all is recovered (the funds will be restored). <\/p>\n<p>The network will be stronger and more resilient.<\/p>\n<p>\u2014 THORChain #ACTIVATETHESYNTHS\u26a1\ufe0f (@THORChain) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/THORChain\/status\/1415846497304801280?ref_src=twsrc%5Etfw\">July 16, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Blockchain cybersecurity firm, Halborn Security, is <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/HalbornSecurity\/status\/1415803264998723585\">compiling<\/a> a proposal to the ThorChain community for \u201cAdvance Persistent Protection,\u201d offering up a team of up to half a dozen \u201cethical security engineers working to break every update on ThorChain.&#8221;<\/p>\n<p><strong><em>Related: <\/em><\/strong><em>A RUNE with a view: How smart crypto traders caught a 48% price pump<\/em><\/p>\n<p>Thorchain entered into its guarded \u201cChaosnet\u201d launch during April, facilitating cross-chain swaps across the Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Binance Chain networks.<\/p>\n<p>DeFi Watch founder Chris Blec said the staged &#8220;raise the caps&#8221; launch of ThorChain had prevented an even greater loss of funds.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Keep in mind &#8211; THORchain has been responsibly using a guarded launch approach to its rollout. This exploit could have been *much worse* if they had just recklessly launched without caps on its liquidity pools.<\/p>\n<p>\u2014 Chris Blec (@ChrisBlec) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ChrisBlec\/status\/1415770130794037251?ref_src=twsrc%5Etfw\">July 15, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Today\u2019s attack is not the first time ThorChain has been targeted by hackers during its Chaosnet deployment, with the protocol losing at least <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/mobile.twitter.com\/THORSwap\/status\/1409795633498755076\">$140,000<\/a> worth of assets last month.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/thorchain-loses-7-6m-in-chaosnet-exploit-offers-hacker-a-bounty-to-return-funds\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# ThorChain loses $7.6M in \u2018Chaosnet\u2019 exploit, offers hacker a bounty to return funds &#8221; Popular cross-chain decentralized exchange, ThorChain, has suffered a multimillion-dollar breach. Estimates as to the scale of the damage vary, with ThorChain revising the initial estimate that 13,000 ETH (worth $25.1 million) had been stolen down to 4,000 ETH (roughly $7.6&#8230;<\/p>\n","protected":false},"author":1,"featured_media":300440,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvNWE1ZDYyY2MtOGQwMS00MDA3LTgzYmEtZDE4MTI5NzAyM2MwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74863,74877,74868,74882],"class_list":["post-300439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-cryptocurrencies","tag-decentralized-exchange","tag-defi","tag-hacks"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/300439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=300439"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/300439\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/300440"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=300439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=300439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=300439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}