On 27 October, the DeFi protocol THORChain, built on Cosmos, paused operations due to a software fault.
Devs are aware of a chain halt and have identified the likely cause due to a unique transaction type (nothing to do with solvency).
An update will be posted as soon as there is more confirmed information.
— THORChain (@THORChain) October 27, 2022
Initially, developers said on Twitter that they were aware of the network outage and had identified the likely cause, which “has nothing to do with solvency.”
Later they clarified that the problem lay in string handling. In one of the strings, the actual value was being replaced, causing the memo field to differ across nodes.
Turns out to be string manipulation: code was pushing a cosmos.Uint (instead of a uint64) into a string, which causes the string to get the point of the big int instead of the actual value, causing the memo string to be different on different nodes.
— THORChain (@THORChain) October 28, 2022
They developed a patch to fix the issue and urged node operators to be ready for the update.
As of writing, new blocks had not appeared in the network for 11 hours.
The developers said the network is now operating after an outage lasting about 20.5 hours.
The network is now fully operational after an outage of approximately 20.5 hours. Post-mortem will be released next week https://t.co/QxttVp6Qvy
— THORChain (@THORChain) October 28, 2022
The team said the investigation into the incident would be published next week.
The project’s native utility token, RUNE, fell 4.7% in the last 24 hours (CoinGecko). However, this move aligns with the market trend, and many coins have fallen more. Bitcoin prices declined by 2.5%.
The value of assets locked in the protocol stands at $106.5 million, with no change over the day (DeFi Llama).
“Another day, another THORChain network outage,” commented one user.
In July the protocol suspended operations after a series of hacker attacks.
In July the THORChain team launched the mainnet.
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