THORChainHackCauses$10.7MLoss
🚨 THORChain Exploit Sends Shockwaves Across DeFi
THORChain has paused all trading after a major exploit drained more than $10.7 million in assets across multiple blockchains, including Bitcoin, Ethereum, BNB Smart Chain, and Base. Security researchers discovered that the attacker stole assets such as USDT, USDC, WBTC, DAI, LINK, AAVE, and THOR before converting most of them into ETH.
The news immediately impacted THORChain ($RUNE), which dropped sharply as investor confidence weakened once again. This is not the first security incident involving THORChain, raising fresh concerns about the safety of cross-chain DeFi protocols.
While Bitcoin and Ethereum saw no major direct price impact, repeated DeFi hacks continue to hurt overall market sentiment. At the same time, centralized exchanges and heavily audited platforms may benefit as users move funds toward safer alternatives.
The exploit is another reminder that security remains one of crypto’s biggest challenges.