THORChain $10M exploit, CLARITY ethics fight, Poland passes MiCA

THORChain confirmed an exploit that drained about $10 million and launched a recovery portal for affected users. The project said node operators detected anomalous outbound transactions on May 11 at 02:14 UTC and paused trading and outbound signing within eight minutes. Attackers removed 36.75 BTC (about $3 million) and roughly $7 million in tokens across BNB Chain, Ethereum and Base, impacting 12,847 wallets across four chains.

The THORChain Foundation said the recovery portal lets users revoke malicious token approvals and submit refund claims. The portal, which cites a PeckShield post-mortem, shows proposed compensation and is backed by a treasury-provisioned refund pool equal to the exploit amount. Affected users have 21 days to submit claims; the refund window closes on June 4. Any unclaimed allocation will move to the protocol’s insurance fund. The foundation wrote on X, “Affected users are now able to check what they will be paid as compensation following the exploit.”

In Washington, the Senate Banking Committee advanced the CLARITY Act, a market structure bill, with bipartisan support on Thursday. Several Senate Democrats warned they could withhold votes in the full Senate unless the bill includes stronger ethics provisions addressing conflicts tied to elected officials and the crypto industry. Democrats sought amendments in committee to tighten conflict-of-interest rules but were unsuccessful. Their concerns referenced President Donald Trump’s memecoin activity and his family’s World Liberty Financial business.

Republicans would likely need Democratic votes to reach the 60-vote threshold required to advance the measure in the full Senate. One Republican senator said additional work is needed before final passage. A full Senate vote has not been scheduled. The White House has set a goal of having the bill signed into law by July 4.

In Warsaw, the Sejm adopted bill No. 2529 on Friday during its 57th sitting, approving legislation from the Ministry of Finance to implement the EU’s Markets in Crypto-Assets Regulation. The law gives the Polish Financial Supervision Authority (KNF) powers to supervise market participants, impose administrative sanctions and temporarily block accounts and transactions. The vote was 241 in favor and 200 against. The approved draft follows two earlier presidential vetoes by Karol Nawrocki and is the government’s third attempt; lawmakers selected the ministry-backed draft over three competing proposals.