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>>Thorchain Exploit Steals $10 Million, Spreading Security Concerns Throughout DeFi

Thorchain Exploit Steals $10 Million, Spreading Security Concerns Throughout DeFi

crypthub

about 3 hours ago

THORChain Exploit Details

A major breach occurred in the THORChain protocol, a cross-chain trading service. Security researchers labeled suspicious wallets as "THORChain Exploiter" addresses. The attack targeted multiple blockchains, including Bitcoin, Ethereum, BNB Chain, and Base. Estimates suggest that the total stolen assets exceed $10 million, including significant amounts of BTC and ETH.

Discovery and Vulnerability

The exploit was initially spotted by on-chain investigator ZachXBT, who monitored suspicious fund movements. The system's complex design, while enabling cross-chain swaps, created a critical vulnerability. Attackers shifted vast quantities of assets across different networks before converting them into stable currencies.

Market Reaction and Concerns

Following the news, the native token, RUNE, dropped sharply by nearly 14%, signaling market distress. Adding to the anxiety, THORChain has remained silent regarding the scope of the breach. This incident highlights the persistent vulnerability pattern in complex decentralized cross-chain infrastructure.