THORChain restarts trading after $10.7M exploit with no new token minting

THORChain resumed trading after a five-week halt caused by a $10.7 million exploit on May 15, 2026, where a malicious node operator exploited a cryptographic flaw to drain one of its vaults. The protocol avoided minting new tokens to cover losses, instead using its liquidity reserves, which helped stabilize its native token, RUNE. Security patches and vault migrations were implemented, and the community is considering switching to a more secure cryptographic scheme to prevent similar attacks. The incident highlights the importance of improved onboarding and security measures for decentralized protocols.