Thorchain suffered an attack that drained about 4,000 ETH from the crypto trading protocol, according to a Thursday posting on the Runebase website.

The company tweeted that it would provide a "more detailed assessment and recovery steps" soon.

Network administrators wrote earlier in the day in a Telegram posting the loss was more than three times that amount but updated the figure. They also wrote that the network had been halted while developers investigated the extent of the breach.

"While the treasury has the funds to cover the stolen amount, we request the attacker get in contact with the team to discuss return of funds and a bounty commensurate with the discovery," the administrators wrote on Telegram.


Read more about

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.