rok_schuster
39.5K posts
rok_schuster
@rok_schuster
Working overseas etc.
Koper-Capod'Istria Katılım Temmuz 2012
3.4K Takip Edilen4K Takipçiler
$100,400 just went to the 15 winners of the TON Consensus Challenge.
The smartest engineers on the planet — some armed with loyal AI sidekicks — helped us maximize the security of the new consensus mechanism.
Telegram contests are the only path to joining our engineering team.
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I spent the past few days in Washington with @hyperliquidpc meeting with policymakers during the historic advancement of the Clarity Act. We discussed Hyperliquid, the benefits that it offers to American consumers, and the regulatory path to bring onchain derivatives markets into the United States.
Some conversations were technical with an impressive baseline understanding of Hyperliquid. Discussions included how onchain trading is a financial innovation that has clear global user demand. Other conversations focused more on a first principles introduction to defi and the promise of onchain markets. It was encouraging to see bipartisan support for thoughtful regulation of crypto. I look forward to continuing discussions in DC and working hard to make American access to Hyperliquid a reality.
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THORChain incident update #1
THORChain contributors shared a new update in the dev discord regarding the ongoing incident.
TLDR
- Current evidence points toward a newly churned node linked to the attack, likely operated by a single malicious actor
- The leading theory is an exploit in the GG20 TSS implementation, allowing vault key material to leak over time. The attacker may have reconstructed the vault private key and executed unauthorized outbound txs
- Current network status:
-- The network is paused after multiple node operators executed make pause
-- RUNE transfers and chain observation may resume within ~12h unless decided otherwise by the nodes.
-- Trading, LP actions, signing, and sensitive operations remain paused for now
- Recovery discussions currently include slashing affected node bonds, using POL to absorb losses, or other community-driven solutions
The investigation is still ongoing alongside THORSec and Outrider Analytics.
## Full Announcement ##
Developers and THORSec have been investigating today’s incident continuously throughout the day. While new information may still emerge, I want to provide the community with an update based on what we currently know.
The goal of this update is to clarify the current understanding of the situation as accurately and transparently as possible.
A newly churned node, thor16ucjv3v695mq283me7esh0wdhajjalengcn84q, which entered the network several days ago, is currently believed to be associated with the attack. Developers have identified links between Ethereum addresses used to acquire and bond RUNE for this node, and Ethereum addresses that later received the stolen funds. Based on current evidence, it is believed this was conducted by a single malicious operator, though the investigation remains ongoing.
At this time, the leading theory is the attacker exploited a vulnerability within the GG20 TSS implementation which allowed sensitive key material from vault participants to leak over time. By accumulating enough leaked information, the attacker was ultimately able to reconstruct the vault’s TSS private key and execute unauthorized outbound transactions.
The Treasury is actively collecting forensic data and coordinating with Outrider Analytics and relevant law enforcement agencies in an effort to identify the attacker and pursue recovery of stolen funds where possible.
Due to multiple node operators executing make pause, the network is currently paused. Unless further action is taken, the pause state will automatically expire in approximately 12 hours. At this time, the development team is comfortable allowing the pause to expire in order to restore RUNE transfers and chain observation activity.
However, trading, signing, LP actions, and other sensitive operations will remain paused until the network and community align on a comprehensive recovery and remediation plan.
The recovery process will likely require node governance decisions regarding how losses are ultimately handled. Several potential approaches are already being discussed, including:
Slashing the bond of nodes participating in the affected vault
Allowing Protocol-Owned Liquidity (POL) to absorb the loss
Additional recovery proposals that may emerge from the broader community
At this stage, no final decisions have been made.
The team is continuing to work on a complete recovery and restart plan for the network. Bringing trading and full functionality back online will likely take several days, and potentially longer depending on the complexity of the chosen remediation path.
We will continue to provide updates as more information becomes available.
Finally, I want to thank the developers, node operators, security contributors, and the broader THORChain community for the enormous amount of work done today. One of THORChain’s greatest strengths has always been the community’s ability to come together under pressure, collaborate quickly, and solve difficult problems together.
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