THORChain launches recovery proposal after hack: protocol to absorb $10 million loss, burn attacker's $RUNE

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After THORChain was hit by a GG20 TSS vulnerability exploit on May 15, resulting in a loss of approximately $10.7 million, the community released the recovery proposal ADR028. The core plan involves using Protocol-Owned Liquidity (POL) to absorb the losses first, while the attacker's node-staked RUNE will be fully slashed. Trading functions will only resume after the vulnerability is patched and a node churn is completed. The proposal is currently awaiting a vote from node operators. (Previous coverage: THORChain confirms treasury hack, "loss of $10.7 million"! Official emergency halt to trading, claims user funds are safe) (Background: THORChain multi-chain sync hacked! $10.8 million evaporated, trading fully suspended, RUNE plunges 12%) One week after the attack, THORChain presented the ADR028 recovery proposal, putting loss handling, security patches, and governance to a vote by node operators. The plan includes using Protocol-Owned Liquidity (POL) to absorb the losses caused by this attack first. Any remaining losses will be shared proportionally by Synth holders, with the specific allocation ratio still under assessment. This means POL will temporarily drop to zero, and the proposal suggests redirecting a portion of future system revenue to gradually replenish POL. Regarding the attacker, the approach leaves no room for ambiguity. Innocent nodes in the same Asgard vault as the attacker are protected, but the attacker's node-staked RUNE will be fully slashed. Recovered RUNE will be paired with assets recovered from the affected vault, and any excess RUNE after pairing will be burned. THORChain has also offered a bounty to the attacker to encourage the return of funds. If funds are partially returned, the recovery plan will be rolled back proportionally. The protocol reiterates its commitment to neutrality and permissionless principles, stating that it will not censor the attacker's Swap operations once trading resumes. Technically, the approach is equally cautious. The current GG20 Threshold Signature Scheme (TSS) will be temporarily retained and patched. Trading functions will not be resumed prematurely; they will only be restored after the vulnerability is fully fixed and the network successfully completes a Churn (node rotation). In the future, the protocol will also adopt a slower, more security-focused release cadence. Node operators are currently voting on the overall direction and principles of ADR028. The specific figures in the proposal are currently for reference only and will be adjusted later through the on-chain Mimir voting mechanism. The protocol's primary goal is to restart the network as soon as possible; voting in favor authorizes the development team to continue moving in this direction. RUNE has fallen over 26% in the past seven days and is currently hovering around $0.43. What is the core content of the THORChain ADR028 proposal? It uses Protocol-Owned Liquidity to absorb the $10.7 million attack loss first, with the remainder shared by Synth holders. The attacker's node-staked RUNE will be fully slashed and any excess burned, while a bounty is offered to encourage the attacker to return the funds. When will THORChain trading functions resume? They will only resume after the GG20 TSS vulnerability is fully patched and the network completes a node rotation (Churn). Node operators are currently voting on the recovery direction, and a specific time has not yet been announced.

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Published:2026-05-22 06:54:18

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