MASSIVE Improvement - Well Done ❤️****
12:03: large weird transaction
12:07: Node pauses
12:23: Community finish due diligence and network un-paused.

4mins to pause, 20 mins to resume.

This is a huge improvement since Friday.

- The bot flagged a tx
- A node hit pause
- The community had a channel and a process to follow.

This is how a decentralised network handles an adversarial environment. Onwards. ?

Quick Post-mortem of the WBTC Arb Incident

TC Treasury refunded the failed swap (70 BTC direct to swapper) within the first 2 hours post incident. Root cause identified the issue and fixes are inbound -- a vault had run out of ETH gas, so failed to process the tx (fixed); the WBTC was deemed an "unrecoverable refund" and kept in the pool (it should have been moved to outside the pool, but inside the vault).
TC Treasury is the largest LP of the WBTC pool; and thus captured the majority of the slip based fees of the event; roughly around 50BTC balance change across the event.
The other 20 BTC was captured via arbs. Arbs are mostly friendly to the protocol so this incident capitalised them; They are still requested to return their profits minus 10%.

• Work is underway to add more auto-pause when major slip-events are detected in large pools.
• Community has a bounty and a process (tag @nodeoperator) if seeing any suspicious tx now.
• Additional work to add more bots to monitor and flag txs to community.

No further recovery will be sought from participants; thanks for your engagement. TC is a complex protocol; community is first and last line of defence. Better a small incident now to apply levels of fixes than a large incident in the years ahead. Other L1 DEX protocols - please apply these fixes to your protocols as well.
Onwards.

Standing $50k Bounty To Call a Pause

There is now a standing $50k bounty to any community member that is first to find a suspicious transaction and ask a node to make pause "recommend pause now" "can a node pause please" etc

False positives not paid; but will not attract criticism.

halt early, halt often

The protocol is complex and there are many edge cases devs simply cannot plan for. The community is the first and last line of defence.

??? Attention! Trading is halted on the ETH chain! Refrain from using it until the trading is restarted! ???

This is to resolve the delayed ETH outbound queue situation

✅ Heads up! Trading is resumed on the AVAX chains!

THORChain is currently not processing AVAX transactions due to a global outage of Avalanche C-Chain.

https://x.com/pluto9r/status/1761016104258806065

X (formerly Twitter)

Pluto (9R) (@Pluto9r) on X

THORChain is currently not processing $AVAX transactions due to a global outage of Avalanche C-Chain.