THORChain says it understands the attack, ships a fix tomorrow @THORChain gave its third incident update Monday, saying the team now has a strong understanding of how the roughly $10M exploit was executed but is not ready to share technical details publicly. The attack vector does not appear tied to any currently known GG20 exploit, the team said, and it is still assessing whether other GG20 implementations elsewhere could be at risk. Version 3.18.1 is expected for node operators tomorrow. How to handle the lost funds remains an open question that will go to a community governance vote, not a confirmed compensation program. The network stays partially paused until nodes reach consensus on the recovery approach.

THORChain incident update #3 The developers and THORSec teams have been hard at work throughout the weekend continuing the investigation to fully understand the events that took place, while also planning the road to recovery. It’s important to note that the investigation is still ongoing, and details may change in the coming days as we continue to gather information and adjust plans accordingly. At this time, the team has a strong understanding of what occurred and how the attack was executed, although they are not yet in a position to publicly discuss the technical details. What they can say is that the attack vector does not appear to be related to any currently known GG20 exploits, and at this stage are still assessing whether other GG20 implementations could also be at risk. The team will continue investigating this possibility and will coordinate with other affected teams as appropriate. We would like to thank the many cryptographers and security researchers who assisted throughout this process, including members of the team that originally developed GG20. The team currently expects to release version 3.18.1 tomorrow for node operators to adopt. We ask that all node operators upgrade to this release as soon as possible. There is also an open question regarding the best approach for handling the lost funds within the network. This will need to be discussed and ultimately decided by the community through governance. To facilitate this discussion, there’s a new channel in Discord called ⁠adr-028-tss-exploit-recovery . Before the network can return to a healthy state, nodes will need broad consensus on this ADR, after which the selected approach will be implemented as part of the 3.19 update. THORChads are encouraged to share well-structured and thoughtful proposals for the community to support or challenge. In the coming days, a vote will occur highlighting the most widely supported approaches for node operators to vote on. Regarding the future direction of the cryptographic systems used to secure the vaults, that discussion is still ongoing and requires additional research before any long-term decisions are made. For the immediate future, the team is currently leaning toward remaining on GG20 in order to restore network health and stability as quickly and safely as possible. Longer-term discussions around the future of THORChain’s cryptographic security model will continue once the network has stabilized. We are proud of how both the developer team and community have handled this situation. Everything will get running again as soon as possible, but the process will not be rushed. THORChain has a strong roadmap ahead, and devs are excited to return their focus to continuing to push the envelope of what this project can achieve. Onwards

Eight bridge hacks in six months. $328 million gone. If bridges aren’t secure, what’s even the point?

Bridges are collapsing left and right. The solution isn’t another consensus algorithm. It’s a multichain rollup. @FusionLayer25 ethereum:0x4a220e6096b25eadb88358cb44068a3248254675

HISTORIC CHAOS in crypto! 🚨 Just in May, hackers drained $328.6M across 8 cross-chain bridge attacks, according to Peckshield. 2026 is already the BLACKEST YEAR for DeFi, surpassing $750M stolen so far: KelpDAO and Drift Protocol suffered the worst blows, with exploits of $300M and $200M each. No one is sure—bridge insecurity is brutal, and attacks show no signs of stopping. The industry trembles, and trust hangs by a thread. #Crypto #DeFi #CryptoNews

Verus-Ethereum Bridge Exploited - $11.58M Drained Another cross-chain bridge falls. The Verus-Ethereum Bridge was hit on May 17–18 in a forged cross-chain transfer attack, with attackers draining ~$11.58M in crypto. What was stolen: 103.6 tBTC + 1,625 ETH + ~147K USDC The hacker swapped everything into 5,402 ETH (~$11.4M) and parked it in a single wallet. Funding came via Tornado Cash ~14 hours before the drain, A pre-attack setup. Root cause (the important part): This was NOT a key compromise, signature bypass, or hash collision. Per Blockaid, it was a missing source-amount validation, the bridge verified Merkle proofs and state roots correctly, but never checked if the source-chain transaction actually backed the payout with real value. In simple terms: the attacker spent ~$10 in fees to forge $11.5M out. Same vulnerability class as the 2022 Nomad ($190M) and Wormhole ($325M) hacks. CryptoPatel Summary: Bridges remain DeFi's weakest link. "Cryptographically verified" ≠ "economically validated." Before bridging assets, check the protocol's audit history and never leave large funds idle on a bridge contract. Verus team has not officially confirmed yet, figures are from Blockaid, PeckShield & ExVul. Stay safe. ALWAYS DYOR.

🥷 PeckShieldAlert: Verus-Ethereum has been hacked, resulting in a current loss of $11.58 million.

Wow. Another Ethereum bridge hacked. No surprises there. Play with stupid chains, lose stupid money.

A second bridge exploit hit while the first recovery was still unfinished. The Verus-Ethereum bridge lost 11.58 million USD on 18 May, with the attacker converting stolen assets into 5,402 ETH. This follows the 18 April KelpDAO hack, which created roughly 195 million USD in bad debt on Aave and pulled the protocol's TVL down by over 8 billion USD. Aave has since stabilized above 15 billion USD in TVL after burning the exploiter's tokens and reopening withdrawals, but the new incident keeps cross-chain security risk in focus. Source: Cointelegraph This is not investment advice. Trading involves risk and is not suitable for everyone.