Thunder Terminal Moves to Reboot Post-Exploit, Advances ‘Deep Clean’ Efforts

Shraddha Sharma
December 28, 2023 Updated July 18, 2025
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Thunder Terminal, an on-chain trading protocol active on Ethereum, Solana, Arbitrum, Base, and Avalanche, experienced a security breach early Wednesday. Jackson, the person behind Thunder, has confirmed that the FBI is now actively involved in the investigation of this incident.

The developer also said that the service is set to come back online today. The protocol has also promised enhanced security measures, with a ‘deep clean’ underway. Based on Jackson’s internal update, refunds for the affected users will also be issued soon.

Also Read: Curve Finance Community Approves $49M Payout for July Hack Victims

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What we know about the exploit

Based on an incident report by Thunder Terminal, it noticed unauthorized withdrawals from Thunder wallets around midnight. It explained that an attacker gained access to the URL that allowed them to take over users’ sessions and withdraw money as if they were the users themselves.

The breach is reported to have lasted for a few minutes before Thunder revoked all session tokens and transaction signing access at around 12:20 am on Wednesday. The company clarified that no private keys or wallets were compromised, and desktop wallets remained unaffected.

Thunder Terminal explained, “Less than 1% of wallets on our platform were affected as a result of this attack.”

The attack reportedly resulted in the loss of 86.5611512804 ETH and 439.12232317 SOL, estimated to be around $250,000 at market time. Thunder has committed to refunding all lost funds in full, offering affected users zero fees and $100,000 in credits each.

While the FBI has been reportedly notified, a full technical audit is also in progress. Thunder Terminal has plans to implement two-factor authentication (2FA) for withdrawals and enhance online security. The protocol identified the services used by the attacker and is said to be pursuing technical and legal action.

Thunder also confirmed that none of their team members’ accounts were phished, and the breach was not due to internal errors.

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$2 billion lost in 2023

This case is just one of the security incidents that were reported in the crypto space this year. Based on a recent report by De.Fi, the decentralized finance sector incurred losses of around $1.95 billion in 2023. This comes as Ethereum became the most vulnerable chain to bad actors, losing around $1.35 billion through 170 breaches.

Also Read: Telcoin Acts Fast to Secure Platform Post-Multi-Million Hack

Also Read: Tether Freezes Attacker’s Wallet in Ledger Library Exploit

 

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Shraddha's professional journey spans over five years, during which she worked as a financial journalist, covering business, markets, and cryptocurrencies. As a reporter, she has placed particular emphasis to learn about the market interaction with emerging technologies.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.