The decentralized liquid protocol ThorChain recorded a record transaction volume of $355 million in a single day on October 5th. The total volume of transactions over the past five days has exceeded $1 billion.
The increase in transaction volume coincided with an increase in the number of swaps associated with the network. Experts attribute the sudden increase in volume to an increase in hacker activity, especially with cross-chain BTC transactions. Due to this, ThorSwap, a ThorChain product, has suspended the platform and entered maintenance mode.
The increase in transaction volume coincided with an increase in the number of swaps associated with the network. Experts attribute the sudden increase in volume to an increase in hacker activity, especially with cross-chain BTC transactions. Due to this, ThorSwap, a ThorChain product, has suspended the platform and entered maintenance mode.