- THORChain suffered a coordinated multi-chain exploit that drained more than $10.8 million from its liquidity vaults.
- According to Coinglass data, the sudden price drop today triggered an approximately $11.3 million in long-liquidation, while short-positioned traders witnessed a $34.6k liquidation.
- The THORChain price pullback could seek support at the 38.2% Fibonacci retracement level at $0.526, followed by its next cushion at 50% FIB at $0.5.
On May 15th, the THORChain price witnessed a sudden outflow after suffering a sophisticated multi-chain exploit that drained more than $10.8 million from its liquidity vaults. The attack forced validators to halt core network operations and the RUNE price plunged with double-digit loss to breach $0.55 support.
THORChain Halts Network Following $10.8 Million Multi-Chain Exploit
Cross-chain liquidity protocol THORChain has been completely halted due to a major, coordinated security attack. The hacker managed to siphon out about $10...
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