THORChain has launched a recovery portal after confirming a $10 million exploit, enabling affected users across four blockchains to revoke malicious approvals and claim refunds.
Incident overview
The cross-chain liquidity protocol reported that attackers exploited malicious token approvals affecting users on four separate networks. The breach resulted in approximately $10 million in losses. Specific technical details of the vulnerability were not immediately disclosed.
Recovery portal and user actions
THORChain’s new recovery portal is designed to help impacted wallets secure their assets and request reimbursement. According to the project, the portal allows users to:
- Identify and revoke malicious token approvals associated with the exploit
- Submit claims for refunds tied to affected transactions
- Consolidate remediation steps across the impacted chains
Users are advised to access the portal via THORChain’s official channels and remain vigilant against phishing sites impersonating the recovery page.
About THORChain
THORChain is a decentralized protocol that facilitates native, cross-chain swaps without wrapping assets or relying on centralized intermediaries. It uses the RUNE token to secure its network and enable liquidity across supported blockchains.
What’s next
THORChain said it is continuing remediation efforts through the recovery portal. Additional information on the exploit and any further security measures is expected as the investigation progresses.