THORChain’s RUNE Token Faces Pause in Performance Due to Coding Vulnerability

THORChain’s Vulnerability Pause

THORChain’s digital token, RUNE, experienced a pause in its performance due to a coding vulnerability. The vulnerability was in the TSS library, maintained by Binance Smart Chain, which impacted the project’s nodes. A patch for node operators is ready but on hold until other projects using the TSS library secure their own patches to prevent unnecessary risks.

Main Breakdowns:

THORChain halted key functions due to a security vulnerability in the TSS library.
Most TSS libraries in production are vulnerable to the same issue.
THORChain’s RUNE token value dipped 3% after the security disclosure.
THORChain is a decentralized cross-chain liquidity protocol.
RUNE is THORChain’s native token with various utilities.

THORChain responded by suspending certain operations and preparing a patch. The vulnerability’s scope could potentially impact numerous teams. The security revelations led investors to push RUNE’s price down by 8%. The pause occurred just before the launch of THORChain’s eagerly-awaited lending product, THORfi Lending, which was expected to generate increased volume for RUNE.

Hot Take:

The coding vulnerability in THORChain’s TSS library was a setback for the project and impacted the performance of its token, RUNE. However, THORChain’s response to the issue and their commitment to security is commendable. The temporary pause and the preparation of a patch demonstrate their dedication to protecting the ecosystem and users. It will be interesting to see how the launch of THORfi Lending and the implementation of the patch will impact the future of RUNE and THORChain.