THORChain Faces Criticism After $10.7M Exploit Proposal
- Security Breach Incident: THORChain faced significant criticism after proposing to retain its GG20 signing framework following a $10.7 million exploit, highlighting concerns over the security of its infrastructure and governance decisions.
- Automated Safeguard Mechanism: Following the breach, THORChain's automatic solvency checks suspended cross-chain signing and trading within minutes, effectively preventing further losses and demonstrating the protocol's crisis management capabilities.
- Governance Proposal Controversy: Despite the governance proposal ADR-028 suggesting upgrades to the GG20 framework rather than a complete overhaul, analysts raised concerns about its reliability, citing potential flaws in randomness generation and local signing isolation that could pose future security risks.
- Deepfake Attack: THORChain co-founder JP Thor lost approximately $1.3 million in a separate attack involving a deepfake Zoom call, illustrating the rising sophistication of attacks targeting crypto executives and amplifying market anxiety regarding security vulnerabilities in the industry.
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Technical Analysis for X
Technical Sentiment Analysis for X Empire (X). As of , X Empire (X) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for X 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, X 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 $-.
X Empire (X) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00000842 | 0.00000979 | 0.0000113 | 0.0000127 | 0.0000143 | 0.0000156 | 0.0000172 |
| Fibonacci | 0.00000979 | 0.0000109 | 0.0000116 | 0.0000127 | 0.0000138 | 0.0000145 | 0.0000156 |
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