As a cross-chain platform, THORChain allows token swaps as well as bridging between chains. After identifying a bug in its chain, it cuts off the chain.
Neither funds have been lost, nor have there been any issues with solvency on the part of the company.
THORChain is a cross-chain platform that allows token swaps and bridging. It has halted its chains.
THORCHain stated that its developers were aware of the chain halt, and likely have identified the problem. The team did not mention any theft of funds and stated that the bug had “nothing” to do with solvency.
THORChain tweeted that the cause of the chain halt was likely to be due to a “unique transaction type” error. THORChain didn’t provide any further explanations or details about what this means in its tweet.
Others protocols, such as Lends (a lending protocol that uses THORChain), tweeted warnings to users to stay away from the platform until the situation is resolved.