THORChain Experiences Outage Due to Unspecified Error
THORChain is currently experiencing a halt in operations due to an unspecified error, though it has been confirmed that liquidity is not affected, according to the project’s announcement.
THORChain (RUNE), a blockchain built on Cosmos for cross-chain liquidity provision, has been temporarily suspended since early October 28 due to an unidentified issue.
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The project stated:
Devs are aware of a chain halt and have identified the likely cause due to a unique transaction type (nothing to do with solvency).
— THORChain (@THORChain) October 27, 2022
An update will be posted as soon as there is more confirmed information.
“Developers have paused the blockchain due to a transaction-related issue (not liquidity-related).
We will provide more updates soon.”
As of the latest information, the project has yet to restart the blockchain after more than five hours of downtime.
THORChain has not disclosed the specific reason for the outage. The price of the RUNE token has only experienced a slight decrease at the time of writing.
1H Chart of RUNE/USDT on Binance as of 08:10 AM on October 28, 2022
2022 has seen a troubling rise in security incidents within the crypto industry. According to statistics, damage from crypto attacks has surpassed $3 billion in just 10 months, exceeding the total for the entire year of 2021. Notably, the most severe attacks have targeted cross-chain platforms, including: the Ronin bridge of Axie Infinity ($622 million), the BNB Chain bridge ($586 million), the Wormhole bridge of Solana ($325 million), the Nomad bridge ($176 million), and the Horizon bridge of Harmony ($100 million).
