$10.8M Multichain Exploit Rocks Thorchain Networks

Thorchain has opened a $10M compensation portal to begin returning funds to verified victims affected by a recent multichain exploit that drained four networks and extracted $10.8M in total.

The breach, which occurred after Thorchain paused all network activity, targeted Bitcoin (BTC), Ethereum (ETH), BNB Chain (BNB), and Base, affecting 12,847 wallets.

Investigators suspect the attacker exploited a flaw in THORChain’s GG20 Threshold Signature Scheme implementation, gradually leaking enough vault key material to reconstruct a private key and authorize unauthorized transactions.