THORChain Hack Triggers 15% Slide in RUNE Price

TLDR

• RUNE dropped about 15% after reports linked a new security breach to THORChain.
• On-chain investigator ZachXBT disclosed the suspected hack on Telegram.
• The attack reportedly drained around $10.8 million across four blockchains.
• THORChain paused trading and signing operations after the breach surfaced.
• Arkham data shows the attacker holds ETH, BTC, and BNB in identified wallets.
• The protocol has not yet released a detailed post-mortem on the exploit.

RUNE fell about 15% after reports linked a fresh security breach to THORChain. ZachXBT disclosed the incident on Telegram and outlined early fund movements. The THORChain hack reportedly drained about $10.8 million across four blockchain networks.

RUNE Slides After THORChain Hack Surfaces

ZachXBT alerted his 100,000 Telegram followers about suspicious outflows from THORChain wallets. He stated that attackers targeted Bitcoin, Ethereum, Binance Smart Chain, and Base deployments. Shortly after, traders reacted, and RUNE dropped from $0.58 to nearly $0.50 within hours.

The token reached a two-week low before stabilizing near support levels. Market data showed a double-digit percentage decline during the session. The price swing followed the rapid circulation of the THORChain hack report on X.

THORChain paused trading and signing operations soon after the alert. ZachXBT wrote that “trading halt and signing halt parameters” switched to active. On-chain data showed a node pause lasting about 12 hours and 42 minutes from block 26190429.

The protocol’s Mimir governance module executed the halt. The team has not released a detailed post-mortem. Officials have also not confirmed the specific exploit method.

Arkham Intelligence tracked wallets linked to the attacker. The wallets currently hold 3,443 ETH worth about $7.77 million. They also contain 36.85 BTC worth $2.97 million and 96.6 BNB valued near $66,000.

Attacker Wallets Hold ETH, BTC, and BNB

Blockchain records show coordinated transfers across multiple networks. The attacker consolidated assets in identifiable wallets after the breach. Arkham data reflects holdings across Ethereum, Bitcoin, and Binance Smart Chain.

The Ethereum balance represents the largest share of stolen funds. Bitcoin accounts for the second-largest portion based on current valuations. The BNB holdings represent a smaller fraction of the total amount.

THORChain operates as a decentralized cross-chain liquidity protocol. It allows users to swap native assets without wrapping or centralized bridges. The system connects several networks to facilitate direct asset exchanges.

The breach affected deployments on four blockchains. The exploit reached both the Bitcoin and Ethereum layers. It also impacted Binance Smart Chain and Base integrations.

Cross-chain protocols have faced repeated security incidents since 2021. Chainalysis reports more than $2.8 billion in bridge-related theft since that year. However, THORChain has not yet specified the vulnerability in this case.

ZachXBT continues to monitor the attacker wallets for movement. He shared updates through Telegram as the situation developed. At the time of publication, THORChain has not issued a formal incident report.

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