Episode Details

THORChain Halts Trading Amid Suspected $10M Exploit; RUNE Token Plummets

THORChain abruptly paused all trading after blockchain investigator ZachXBT flagged a potential $10M exploit targeting Bitcoin, Ethereum, BNB Chain, and Base. The decentralized liquidity protocol froze operations to probe the issue, with a wallet linked to the suspected exploiter holding $10.8M.

Other analytics teams, including Cyvers, Peckshield, and Lookonchain, corroborated the red flags. Despite media inquiries, THORChain has yet to issue an official statement.

RUNE token plunged 13% in 24 hours, dropping to around $0.50, exacerbating a dismal year with a 72% overall decline. This incident unfolds against a backdrop of escalating DeFi security woes, following $634M in hacks in April—the highest monthly tally since the $1.46B February heist.

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