Blockchain

Thorchain Returns To Operation After The Outage Incident

Thorchain is back up following a 20-hour outage caused by a technical fault.

Thorchain Returns To Operation After The Outage Incident 2

On Friday afternoon, Thorchain validators collectively restarted the network and began creating new blocks. The network is still not completely operational for on-chain trading, which will be enabled in a few hours when the outstanding backlog of transactions is cleared.

Because of a unique transaction-type software fault that interrupted communication between its nodes, the network validators lost consensus yesterday. The problem stopped validators from verifying fresh network transactions.

Thorchain could not validate new transactions for 20 hours, according to its official block explorer. The investors did not lose any money during the interruption. However, deposits and withdrawals for RUNE, the blockchain native token, have been halted on controlled exchanges like Kucoin.

Last year, security flaws in the blockchain cross-chain swap were repeatedly exploited, resulting in losses of more than $13 million.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.