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1h ago

THORChain Halts Trading After Suspected $10 Million Multi-Chain Exploit

The pause used an emergency switch to freeze swaps across connected networks.

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

Overview

  • THORChain, a protocol for swapping coins across blockchains, halted trading Friday after a suspected multi-chain exploit drained about $10–11 million across Bitcoin, Ethereum, BSC and Base.
  • On-chain investigator ZachXBT flagged the outflows, and Arkham Intelligence and PeckShield later traced theft wallets holding about 3,443 ETH, 36.85 BTC and 96.6 BNB.
  • The protocol set its global HaltTrading and signing halts to active to block new swaps while node operators entered a protective pause reported at roughly 12 hours.
  • RUNE dropped about 10–15% to near $0.50 as spot volume surged and futures open interest climbed, showing brisk trading and forced unwind risk for holders.
  • The team has not issued a technical post-mortem, and the incident reinforces ongoing cross-chain security risks after earlier THORChain exploits and fund flows tied to April’s Kelp DAO breach.