THORChain Pauses Trading After Suspected $10M Multi-Chain Exploit
THORChain has temporarily paused trading following a suspected security exploit across multiple blockchain networks. Blockchain security researchers flagged the incident, with estimated losses exceeding $10 million.
Exploit Details
Security experts ZachXBT and PeckShield identified suspicious activity involving Bitcoin, Ethereum, BNB Smart Chain, and Base. They highlighted two alleged theft addresses on the Bitcoin network and EVM-compatible chains.
While the exploit has not been fully confirmed, the protocol took immediate action by pausing operations to investigate and secure the platform.
Market Reaction
The news triggered a sharp decline in THORChain’s native token RUNE. The token fell as much as 11%, trading around $0.52 at the time of reporting.
Ongoing Security Concerns
This incident adds to a series of security and operational challenges for THORChain:
- In January 2025, the protocol suspended its ThorFi lending operations due to insolvency concerns and began a 90-day restructuring.
- It later resolved a $200 million debt crisis by converting obligations into a new equity-style token.
- In September 2025, THORSwap offered a bounty after a $1.2 million exploit on the founder’s personal wallet, reportedly linked to North Korean hackers.
- THORChain has also been used as a cross-chain bridge in unrelated hacks, including the Kelp DAO exploit.
