THORChain exploited for $11M, RUNE drops 15%
6.7 Security THORChain lost over $10 million in a major exploit, halting trading and causing RUNE to drop 12-15%. Attacker wallets hold large amounts of ETH, BTC, and BNB. Investigation continues.
THORChain, a decentralized cross-chain liquidity protocol, recently suffered a significant exploit with losses estimated between $10.7 million and $11 million. The attack impacted assets across Bitcoin, Ethereum, Binance Smart Chain, and Base. On-chain investigator ZachXBT first reported $7.4 million in losses, later updating the figure as more details emerged. In response to the breach, THORChain initiated a global emergency halt, pausing all trading and signing operations to prevent further losses. Wallets associated with the attacker currently hold substantial amounts of ETH, BTC, and BNB. The incident led to a sharp decline in the price of THORChain’s native token, RUNE, which dropped by 12-15%, from $0.58 to $0.50. As of now, THORChain has not published a detailed post-mortem or official statement about the attack vector. This marks at least the third major security incident for the protocol, underscoring persistent risks in cross-chain DeFi.
