Thorchain links 36 % herstel na vorige weekly multi-billion dollar hack

July was an unstable month for DeFi Thorchain’s multi-part project. 

In the past two weeks, the project has suffered two major attacks, with its own token, Rune, dropping from its local high of $ 7.61 to $ 4. 

During the second abuse, the attacker also left a note that he could easily have done much more. Instead, they wanted to” lecture ” the thorchain developers. 

The team has struggled to gather October feedback from audit partners, notably Trail of Bits and Halborn Security, launch a $ 500,000 error reward program with ImmuneFi, and even develop plans to take insurance measures for future violations. 

Thorchain uses Treasury to return $ 5m to Ethereum after attack
They also noted that they had adopted” more than 20 White Hat security experts to guide the Thorchain code step by step ” and that”more dark supercodders from major [developers] are working on security.” 

Overwhelming support for @ THORChain

– audit @ trailofbits
– @HalbornSecurity + 6 ft engineers
– error reward program @immunefi @ninerealms_cap ($500k program)
Insurance planned @ NexusMutual, @ CoverProtocol, @ riskharbor, @ riskharbor,
Everyone’s looking at the code.

Tom Shaughnessy (@Shaughnessy119)July 28, 2021

With so much focus on codes, investors now seem far more confident about the safety of the project. According to CoinGecko, at the time of printing, Rune rose 36.3% over the past 24 hours, making it the biggest gain for the top 100 cryptocurrencies.

Thorchain is a decentralized exchange similar to uniswap built on the Cosmos blockchain. Using the power of Cosmos ‘ multiple chains, Thorchain allows traders to trade cryptocurrencies even if they do not have the same token by default. Of course, this is possible without a chain, but you may need the help of a keeper like Coinbase. The Defi project is instead centralizing this exchange with the “Chaosnet” feature, launched in April. 

Are Chaosnet

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