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18h ago

THORChain Halts Operations After Suspected $11 Million Cross-Chain Exploit

Investigators report a multi-network theft that underscores persistent cross-chain security gaps.

THORChain loses nearly $11 million in suspected exploit
Thorchain loses nearly $11m as attackers poison vault churn process across 4 chains

Overview

  • ZachXBT, who tracks on-chain flows, flagged a suspected breach Friday that he now pegs at roughly $10.7–$11 million.
  • THORChain, a protocol for swapping native coins across blockchains without wrapped tokens, paused trading and signing through its Mimir settings, leaving users unable to swap while the team assesses the issue.
  • The exploit hit deployments linked to Bitcoin, Ethereum, Binance Smart Chain and Base, with funds routed to a small set of traceable wallets.
  • Arkham Intelligence reported attacker wallets holding about 3,443 ETH, 36.85 BTC and 96.6 BNB, suggesting most of the haul now sits on Ethereum and Bitcoin.
  • RUNE fell about 13–15% after the pause, and with no formal incident report yet, the episode adds to THORChain’s prior 2021 and 2025 breaches that have kept cross-chain designs under scrutiny.