THORChain is back online: the protocol has resumed operations after the May hack and is preparing to support Monero.
The decentralized cross-chain liquidity protocol THORChain has officially resumed trading activity after more than a month of downtime. The project team announced the full restoration of functionality: transaction signing, operations for liquidity providers, swaps, and all key network mechanisms are now available.
What happened and how it affected the market
The incident that led to the suspension occurred in May. Attackers managed to withdraw funds totaling approximately $10.8 million. This event dealt a serious blow to community trust, but the team quickly brought the situation under control and focused on security audits and fixing vulnerabilities.
Against the backdrop of trading resumption, THORChain also confirmed that testing of native swaps for Monero (XMR) is in its final stage. Next in line for integration is Zcash (ZEC). These are strategically important steps that expand the protocol's capabilities in the private assets segment.
Roadmap: what's next
In the updated development plan, a special place is given to dynamic fees — a mechanism that will allow transaction costs to be adapted to current network load and market volatility. In parallel, work will be carried out to expand liquidity pools, which is critical for market depth and attracting institutional participants.
Cryptalist expert opinion:THORChain's return after such an incident is a positive signal, but not a reason for euphoria. The market has already seen examples where recovery from hacks was accompanied by a temporary outflow of capital. The key question now is whether the team can maintain the trust of liquidity providers and ensure stability amid growing interest in private cross-chain operations. Support for Monero and Zcash is the right move, but the implementation must be flawless.