Thorchain Offers $10 Million Compensation for Hack Victims Across Four Blockchains

Thorchain has taken a significant step towards rebuilding user trust and addressing the financial losses from a recent hack by launching a compensation portal.

The portal, which offers $10 million in compensation across four blockchain networks - Bitcoin, BNB Chain, Ethereum, and Base - is now open for applications until June 4. After this deadline, any unclaimed funds will be transferred to Thorchain's insurance fund, designed to cover future security incidents and strengthen the platform's resilience.

The eligibility process involves verifying that a wallet held funds in one of the affected Thorchain pools at the time of the exploit. Users are advised to apply promptly and provide accurate information to ensure processing.