THORChain Hack Exposes Major Security Flaw as $10M Recovery Plan Launches
- Security Flaw Exposed: THORChain confirmed that attackers exploited weaknesses in its vault infrastructure, draining nearly $10 million and affecting 12,847 wallets, highlighting significant security concerns within the protocol.
- Rapid Response Measures: Following the detection of suspicious transactions, THORChain paused trading and outbound signing within eight minutes to limit further losses, while also launching a compensation process for affected users.
- Compensation Plan Initiated: The protocol introduced a recovery portal allowing users to check refund allocations and submit claims by June 4, with unclaimed funds transferring to the protocol's insurance reserve, demonstrating its commitment to user support.
- Increased Industry Security Pressure: With crypto hacks totaling approximately $629.7 million in April, THORChain faces immense pressure to restore user confidence, especially as attacks increasingly target operational weaknesses rather than basic smart contract flaws.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR). As of , Major (MAJOR) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for MAJOR 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, MAJOR 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 $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0434 | 0.0519 | 0.0588 | 0.0673 | 0.0742 | 0.0827 | 0.0895 |
| Fibonacci | 0.0519 | 0.0578 | 0.0614 | 0.0673 | 0.0732 | 0.0768 | 0.0827 |
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