30% Lightning Price Spike on ThorChain
The past weeks was a rough week for the Thor chain developers because their native token was hacked by cyber criminals. This act caused the price of the native token to have a price crash from $7.61 to $4.
The attackers claimed to be nice criminals because they dropped a note trying to prove they had the power of stripping the platform off everything they were worth but wanted to teach the developers a lesson. The team had to do what was necessary by consulting audits partners and putting a $500,000 bug bounty and decided to take insurance measures against future attacks.They also decided to work with better developers to boost the security cores.
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With these acts, investors decided to put their trust in them once again. This made Rune sky rocket to price increase above 32% in the past 24 hours.
Posted Using LeoFinance Beta
THORChain is still a great investment. The potential is there for this one.
Posted Using LeoFinance Beta
I dont give it much credit, but explain to me what it is and what it does, like I am a baba baby?
https://leofinance.io/@kevinnag58/thorchain-rune-pros-and-cons
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Dont have time for LEO.. sorry :)
Explain it with your words, like I am a baba baby...?
Those are my words on the topic. All I would do otherwise is cut and paste the contents here for you. I wrote that!
Posted Using LeoFinance Beta
Nice anecdote, its hard to know what exactly happened, but just the fact that they might been hacked, tells me that its a weak product/project? I dont know much about Thor?? Isnt it just a "token with promiss" which 99% never will happen?
It’s a defi though
Well some "defi" has admin keys and other bad stuff, I guess ThorChain doesnt have that?.. I looked into it a little a while back, but decided that it was not for me... I like the name, but I am not sure about the product.
Again can you explain to me exactly what it is, other then "its a DeFi"?
The best DeFi I know about is HEX...