THORChain has successfully restored full trading operations across its network, ending a shutdown that lasted more than five weeks following a significant security incident. According to the protocol's official update on X, signing, churning, liquidity provider actions, and swaps are now fully operational, marking a significant milestone for the decentralized cross-chain liquidity protocol. The return of these services restores access to one of the largest decentralized networks for native cross-chain asset swaps, enabling users to move assets between supported blockchains through THORChain's liquidity infrastructure once again. As reported by 99Bitcoins, the Bitcoin DEX positions itself as the world's leading decentralized exchange for Bitcoin, allowing users to swap native assets across different blockchains without the need to wrap tokens or rely on centralized intermediaries for bridging.
As reported by crypto.news, THORChain traded at $0.419456 on June 23, showing modest market activity despite the network's return. RUNE was down 0.2% over 24 hours but demonstrated 2% weekly gains, indicating cautious market sentiment following the extended downtime. The token recorded $16.29 million in daily trading volume, providing some indication of renewed user interest in the cross-chain trading network. According to the latest reports, the exploit drained approximately $10.7 million from one of THORChain's six Asgard vaults, while the remaining five vaults remained unaffected by the incident. The Fear & Greed Index dropped to 17/100, falling below the 20-25 range that had held steady over the past week and indicating a fresh wave of investor concern as Bitcoin struggles to reclaim $63,000.
According to THORChain's official statement, the protocol completed extensive verification processes before allowing trading to resume. The network verified every vault and checked every keyshare, with most vaults verified through KeyVerify and remaining legacy vaults retired through migration to a new vault set. The restart required validators to approve v3.19.0 upgrade, which added compromised-vault quarantine, keyshare checks, and recovery logic tied to ADR028. The protocol credited node operators, developers, and contributors from Maya Protocol for supporting the recovery process, with their efforts helping maintain network stability while the protocol completed extensive security reviews. Trading on THORChain was halted on May 15 after blockchain investigator ZachXBT and security firm PeckShield reported a suspected exploit affecting Bitcoin, Ethereum, BNB Chain, and Base.
The May 15 exploit targeted THORChain's GG20 threshold signature scheme, with a newly churned malicious node operator reconstructing a full private key through progressive key material leakage. As reported by crypto.news, the attacker drained one vault while remaining four vaults remained unaffected, with automatic solvency checks detecting the imbalance within minutes and halting signing and trading across several chains. Node operators then stacked manual pauses and used Mimir governance controls to bring trading, signing, observation and churning into a controlled halt within roughly two hours of the community alert. The protocol faced backlash after proposing to patch the flaw rather than replace it immediately, with the recovery path focusing on patching the GG20 issue first.
Alongside the restart, THORChain outlined several upcoming protocol upgrades that signal the protocol's focus on expanding cross-chain functionality. According to the latest reports, native Monero swaps are already functioning in end-to-end testing and are expected to launch in the near future, representing a significant expansion of THORChain's privacy-asset support capabilities. The protocol also plans to introduce native Zcash support, alongside dynamic fees and deeper liquidity improvements designed to strengthen the protocol's cross-chain trading infrastructure. This roadmap demonstrates THORChain's commitment to expanding beyond its current asset support while maintaining the security standards established during the recent recovery process.
