July was a pretty wild time for the THORChain ecosystem.
THORChain suffered a series of exploits throughout July, and it really shook the community and took us all by surprise.
During that time, there was a lot of uncertainty and fear around what was going on.
Now that things have calmed down, we wanted to take some time to take a deep dive into what happened so that you are up to date.
So today, in part one of our two-part series, we will be talking to two great guests that really know their shit.
We will be talking to Chris from GrassRoots Crypto, and RUNEBase's own Tratium. The three of us will explain exactly what went down in the series of exploits that took place over the course of the last 3-4 weeks:
- Exploit 1 - Whitehat ERC-777
- Exploit 2 - Router Wrapping Exploit. ETH deposit transactions. Caused ETH out of pool.
- Post-Exploit Error - Premature network restart before ETH pool balanced. Arbs made pool insolvent.
- Exploit 3 - Tricking Bifrost. ERC20's drained for $7.7M of ERC20s including $4.xM XRUNE. Dumped on Sushi.
- Bonus - UNIH ERC20 expliot
THORChain will come out of this stronger than ever and is working towards a brighter future, and we want to thank our community for sticking by us and continuing to grow THORChain with us.
Stay tuned for part two, which will be out later today or tomorrow.