According to THORChain’s treasury report for Q1 2022 released on April 1, the chain registered a growth in revenue despite the twofold impact of persistent market sluggishness and highly unstable geopolitical factors. Public data shows that THORChain recorded $2.17 billion in revenue in Q1 2022. THORChain, acclaimed as the “cross-chain version of UniSwap”, gained a foothold in the cross-chain trading market relying on its unique advantages and earned extensive recognition among investors.
Behind all these glamours, THORChain is also deeply troubled by hacking. The chain suffered frequent security breaches since it was launched on Ethereum, a fact that casts doubt on its security. On April 11, THORChain tweeted about phishing attacks, warning users not to interact with [DeTHOR] or other unknown tokens within their wallets, which once again raised concerns about its security issues.
While building a sound security system for CoinEx products, the CoinEx security team also keeps track of security incidents in the blockchain space to help users better understand the security of different projects from the perspective of technical security and mitigate the investment risk. Aiming to improve the security criteria for the blockchain sector, the CoinEx security team has analyzed the security risks of THORChain (RUNE). The team hopes that THORChain could note and mitigate the following risks by optimizing the relevant smart contract codes. In addition, this article is also a warning for users, reminding them to be more aware of asset security and avoid asset losses.