THORChain resumes swaps following network halt

THORChain has resumed swaps on 11 blockchains, including Bitcoin, Ethereum, and RUNE, following a network halt caused by a software bug. The pause was triggered by an automatic solvency check after an Ethereum reorganization resulted in a 10 ETH shortfall in a THORChain vault. While most chains have reopened, swaps for Solana, BNB Chain, and Cosmos remain halted as node operators complete the version 3.21.1 update.

Reports indicate that North Korean hackers, identified by the FBI as the TraderTraitor group, have resumed using the THORChain network to swap stolen ether for bitcoin. This follows a major theft from Binance hot wallets. The resumption of trading on the cross-chain swap network allows for the movement of assets in a manner that can be difficult for regulators to freeze.