THORChain has confirmed that trading is live again after more than a month offline. Signing, churning, secured assets, liquidity provider actions, and cross-chain swaps have all been restored. This is the news RUNE holders and crypto traders have been waiting for.
May Attack: $10.7M Drained via GG20 Signature Weakness
On May 15, an attacker exploited a weakness in THORChain's GG20 threshold signature scheme, which splits a private key across multiple node operators, draining $10.7 million from one of the six Asgard vaults. THORChain's automated solvency system flagged the breach within minutes, and trading was halted immediately. Only one vault was hit; the other five remained secure. The protocol absorbed the loss through its own liquidity reserves instead of minting new RUNE tokens, preventing further price decline during the shutdown.
Full Overhaul Before Restart: 11-Stage Process and KeyVerify
The team did not rush the restart. THORChain completed an 11-stage reactivation process, including third-party security audits, node infrastructure upgrades, and software patches. Every vault was checked; every node operator's keyshare was verified using a new tool called KeyVerify. Legacy vaults that could not be verified were retired and migrated to a clean vault set. Two security patches — versions 3.18.1 and 3.19.1 — were deployed, and the new design can isolate a compromised vault without shutting the entire network, a major upgrade from the old setup.
Currently working features include: cross-chain swaps between Bitcoin, Ethereum, and supported assets; liquidity provider deposits and withdrawals; node signing and churning; trade assets and secured assets.
What's Next: Monero, Zcash, and Deeper Liquidity
The restart is not the end. THORChain's pipeline is full. Native Monero swaps are already working end-to-end in testing, with a live launch on the horizon. Zcash follows close behind. Dynamic fees and deeper liquidity are also on the way. Monero is one of the largest privacy coins by volume, and adding native Monero swaps — without KYC, from users' own wallets — puts THORChain in a unique position, as no major DEX currently offers this.
As of June 23, RUNE traded at around $0.419, up 2% over seven days, with $16.29 million in daily trading volume — a 137% surge from the previous day. The price reaction was calm, not explosive, but returning volume is a healthy sign. The next key milestone to watch is the live Monero swap launch, which could bring a new wave of users, especially privacy coin traders who have had few on-chain options.