Is THORChain safe to connect?
Swap service ยท Native cross-chain swaps: BTC, ETH, SOL, LTC, BCH, DOGE, XRP, TRON, BSC, AVAX, Base, Cosmos and more; ZEC and XMR rolling out. Checked 2026-10-25; every line links its source.
Worst case: There are no KYC freezes, but your coins sit in node-operator-controlled vaults while a swap processes: an exploit or network-wide halt (May 2026: $10.7M taken) can delay or endanger them, and a mistake outside the automatic refund rules can't be reversed.
Safe setup in 3 steps
- Swap through swap.thorchain.org or a reputable wallet's built-in THORChain swap rather than hand-writing memos
- Set a price limit and a refund address you control; failed swaps refund minus the outbound fee
- Test with a small amount first and check that the network isn't halted before sending
What it can do with your money
| Who holds the keys | Keys are shared (MPC) You send coins to an inbound vault address controlled jointly by THORChain node operators through threshold signatures (TSS). The May 2026 exploit came from a flaw in that TSS implementation. source |
|---|---|
| Can funds be sent out to any address? | Not applicable for swaps; the output or refund is sent by the network when it isn't halted. source |
| Can it hold or freeze your funds? | No KYC or account. Refunds are automatic, minus the outbound fee, for an invalid memo, wrong asset or pool, wrong transaction type, or when the result would fall below your price limit. They go to the refund address in the memo or else to the sender (dev docs). THORChain says it can halt the network in an emergency, but a halt 'is not a selective freeze of specific funds or an individual swap', and it declined to blacklist attacker addresses (Cryptopolitan, 2026-09-28). A halt pauses everyone's swaps: after the May 2026 exploit, trading and signing were halted, and TokenPost dates the restart to 2026-06-22. The THORFi lending/savers pause (Jan 2025) held withdrawals for about $200M in liabilities. source |
| Monero and Zcash | XMR: not live as of 2026-10-22: v3.21 (2026-10-21) moves the Monero integration closer, activation awaits v3.21.1 and a limited-liquidity soft launch ZEC: ZEC pool launched 2026-10-02 with trading 'the next step' (crypto.news); current trading status not verified source |
Official links
- Website:
thorchain.org - Website:
swap.thorchain.org - X:
@THORChain
Where we confirmed these
Incidents
| Date | What happened | Amount | Outcome | Source |
|---|---|---|---|---|
| 2026-09-25 | Funds stolen in the Bitget hack were swapped through THORChain (~$1.38B of volume over Sept 25-29); THORChain declined Bitget's request to block the attacker's addresses | ~$1.38B volume | Not blocked; THORChain says halts are not selective freezes | source |
| 2026-05-15 | Exploit drained ~$10.7M from one of THORChain's five vaults via a flaw in its GG20 threshold-signature code, by a node operator that joined two days earlier; trading and signing halted | ~$10.7M | Loss coverage (bond slashing, protocol-owned liquidity or other options) left to governance in the report; network restarted 2026-06-22 per TokenPost | source |
| 2025-02-21 | Lazarus Group laundered ETH stolen in the Bybit hack through THORChain into Bitcoin | ~$1.4B ETH (per The Defiant) | Not blocked | source |
| 2025-01-24 | THORChain halted withdrawals from its THORFi Lending and Savers products, which held about $200M of BTC and ETH liabilities it couldn't pay out (swaps unaffected) | ~$200M | Debt later handled via TCY token claims | source |