THORChain halts swaps after Ethereum error, RUNE falls 18% amid security probe

THORChain, a decentralized cross-chain liquidity protocol, suspended swaps across ten major blockchain networks after an Ethereum block reorganization led to a 10 ETH refund error. This incident caused the native token RUNE to drop approximately 18% as traders reacted to the sudden halt and market uncertainty. On October 31, at around 11:34 UTC, Ethereum underwent a one-block reorganization—an uncommon event where a valid block is replaced by an alternative version, altering the transaction history. A 10 ETH deposit intended for a THORChain vault appeared in the block that was ultimately discarded. THORChain had already recognized the deposit in its records, but the transaction vanished from Ethereum’s accepted blockchain.

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