THORChain[1] suffered two back-to-back exploits on its ETH[2] Router. The first took all the ETH from the system via an attacking contract that sat in front of the Router. The second took all the economically significant ERC20[3]s via an attacking agreement that sat behind the Router.
Well, the DeFi protocol[4] has come a long way. On 10 March, it was the third-largest project[5] as per Messari. But this doesn’t guarantee a long time, hiccup-free rides.
Apologies for the inconvenience?
THOR Chain experienced[6] a 6-hour network outage in the early hours of 19 March. However, it has recovered since. And, all pending transactions have been listed in subsequent blocks. This wouldn’t come as a total surprise given the platform’s immense traction in 2022. In fact, the hard fork scheduled[7] for the following Monday was expected to be delayed by six hours due to the outage.
THORChain tweeted that its network recovered after a brief outage and that no funds were currently at risk.
Chad Barraford[8], the core developer of THORChain, stated in a tweet on 18 March that the THORChain network encountered a failure, causing it to stop producing new blocks. However, the core developers released[9] a fix.
As per the root cause, the protocol updated the same on 19 March, it read
Since the error was in the mempool and not the ledger- a fix was possible. The node that proposed the block simply had to run the updated software to handle the error and keep going. ‘Thus no hard-fork necessary,’ the team added.
Nonetheless, the network was soon online. That said, it had to catch up to the huge number of pending transactions amidst
