THORChain Halts Trading Amid Suspected $10M Multi-Chain Exploit
- THORChain suspended all trading after researchers flagged a suspected exploit affecting Bitcoin, Ethereum, BNB Smart Chain, and Base networks.
- Blockchain researcher ZachXBT and security firm PeckShield identified two addresses linked to alleged losses exceeding $10 million.
- The protocol halted operations while investigating the potential breach, with RUNE token down by 10% to $0.5229.
- During the suspected exploit, THORChain processed $394 million in daily volume amid elevated activity.
- Cross-chain protocols continue facing sophisticated attacks, as seen in recent incidents involving TrustedVolumes and North Korean hackers.
THORChain’s immediate response follows the identification of a suspected multi-chain exploit with significant financial implications, highlighting ongoing vulnerabilities in cross-chain protocols.
The incident underscores the challenges faced by decentralized finance platforms in securing complex bridging mechanisms against sophisticated cyber threats (Source).
