THORChain Confirms $10 Million Exploit and Recovery Efforts
- Exploit Overview: THORChain confirmed a $10 million exploit, where the attacker exploited a vulnerability in the GG20 threshold signature scheme on May 11, leading to the theft of 36.75 BTC and approximately $7 million in tokens, affecting 12,847 wallets and highlighting risks in cross-chain infrastructure.
- User Compensation Mechanism: Affected users have 21 days to submit claims through THORChain's recovery portal, with the refund window closing on June 4, after which unclaimed funds will roll into the insurance fund, ensuring users have a defined recovery path and mitigating immediate reputational damage.
- Security Challenges: While the refund pool may reduce user losses, the exploit raises broader valuation issues for DeFi protocols, emphasizing the importance of security architecture in protecting assets, especially amid a surge in crypto losses.
- Investigation Progress: THORChain is collaborating with law enforcement to gather forensic data to identify the attacker, with investigations indicating that a newly added node may be linked to the incident, underscoring the critical role of node operations and key management in security.
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Technical Analysis for PORTAL
Technical Sentiment Analysis for Portal (PORTAL). As of , Portal (PORTAL) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for PORTAL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, PORTAL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Portal (PORTAL) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00664 | 0.00721 | 0.00779 | 0.00836 | 0.00894 | 0.00951 | 0.0101 |
| Fibonacci | 0.00721 | 0.00765 | 0.00792 | 0.00836 | 0.0088 | 0.00907 | 0.00951 |
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