THORChain Hit by $10.7M Exploit: Trading Halted, $RUNE Plunges
DeFi protocol THORChain has suffered a major security breach, resulting in the theft of approximately $10.7 million in digital assets. The incident was flagged by blockchain security firms PeckShield and investigator ZachXBT, forcing the protocol to immediately halt all trading activity.
Here is what we know so far:
> The Exploit: Attackers managed to compromise one of THORChain’s six primary vaults.
> Multi-Chain Impact: Stolen funds, including more than 36 $BTC (approx. $3 million) and $7 million in other assets, were siphoned across multiple networks, including Bitcoin, Ethereum, BNB Chain, and Base.
> Fund Safety: THORChain released an official statement confirming the trading halt. Initial reports suggest user funds remain safe, as the exploit primarily targeted protocol-owned funds.
> Market Reaction: Following the news, THORChain's native token, $RUNE , faced intense selling pressure, plunging double-digits within hours as traders rushed to de-risk.
The team is currently investigating the vulnerability alongside security experts to secure the remaining vaults.