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THORChain: Network recovery enters the final stage, funds will be transferred to the new vault

2026-06-20 04:04:28

Abstract generation in progress

Mars Finance News reported that on June 20, THORChain released an incident update saying the network is entering the final stage of recovery. It is currently verifying the integrity of each node’s keyshare through the new KeyVerify protocol. This step is used to confirm that each vault is in a secure state before churn begins. If the verification passes, the next major step will be churn, when the network transfers all funds to the new vaults. THORChain stated that the churn duration is the current main variable and may take anywhere from several hours to several days. After churn is completed, the subsequent steps are expected to move quickly, including re-enabling Secured and Trade assets, LP operations, and finally restoring trading. The network recovery took longer than expected because the team always prioritized security and stability, and it will continue to share more updates going forward.

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