I'm bullish on this market and wanted to add more BTC without touching a CEX, so I went to THORChain.
Did the homework before sending anything and I don't like what I found:
• May 2026: a node that joined 2 days earlier reconstructed a vault's full TSS key and drained $10.7M. Bond ~635k RUNE vs $10.7M loot. Still on GG20 (also I think "checking if key is legit" was supposed to be done Q1/Q2 this year?)
• Swaps halted again Oct 31–Nov 4 (ETH reorg → double refund). Team says the reorg vector isn't fully fixed
• Total bond ~$65M vs ~$63M pooled, ~1:1. Min node bond $194k, a vault holds ~$15M (economically it makes sense to bond RUNE and try to drain)
• Protocol-owned liquidity in the BTC pool: $0
Looking for alternatives - I assume I'm only left with
@Chainflip? Chat lmk