THORChain reopens trading 5 weeks after $10.7M exploit

THORChain has resumed trading after more than five weeks offline, following a May exploit that drained about $10.7 million from one of its Asgard vaults across Bitcoin, Ethereum, BNB Chain, and Base.

The decentralized cross-chain liquidity protocol said every vault has been re-verified and every keyshare checked before reopening. Trading was paused while the team traced the breach, patched the affected code, and ran a full audit of the remaining vault infrastructure.

Why it matters

The $10.7M loss ranks as one of the larger cross-chain bridge-style incidents of the year, and the five-week pause is one of the longer recovery windows a major DEX has taken. The episode is the second material exploit to hit THORChain, a protocol whose security model leans heavily on threshold-signed Asgard vaults spread across chains.

Market impact

The team has framed the return as a clean restart, with native Monero swaps already in testing as the next roadmap feature. Whether liquidity returns at pre-exploit depth, and whether the XMR integration ships without reopening the same vault attack surface, is the test the next 30 days will measure.