Thorchain halts trading after $10M exploit, RUNE drops 12%

Thorchain, a cross-chain liquidity protocol, halted all trading and signing on Friday after an attacker drained approximately $10.8 million across Bitcoin, Ethereum, BSC, and Base. The exploit forced the network to pause operations, and the native token RUNE dropped 12% in response.

The attacker exploited a vulnerability in Thorchain's cross-chain infrastructure, siphoning funds from multiple blockchains. The protocol's security team confirmed the incident and stated that trading and signing would remain suspended until a fix is deployed. This is not the first security breach for Thorchain; the protocol has suffered several exploits in the past, totaling over $10 million in losses.

For cryptocurrency traders, this event highlights persistent security risks in decentralized finance (DeFi), particularly for cross-chain bridges and liquidity protocols. Such incidents often trigger sell-offs in the affected token and can lead to broader market jitters, especially among DeFi-related assets. Traders can monitor the situation and price action on NowPrice's live crypto dashboard to track RUNE and other affected tokens in real time.

Looking ahead, the market will focus on Thorchain's recovery timeline and the effectiveness of its security patch. If the protocol resumes operations quickly and compensates affected users, confidence may be partially restored. However, repeated exploits could erode trust in cross-chain DeFi solutions, potentially driving capital toward more audited or insured platforms. The broader crypto market will also watch for any regulatory response or increased scrutiny on cross-chain protocols.