THORChain Exploit Hits $10M+ Across Chains as RUNE Slumps
Tracking firms Arkham Intelligence and investigator ZachXBT flagged “THORChain Exploiter” wallets linked to the THORChain exploit. The breach reportedly moved about $7.2M across multiple chains (including USDT, USDC and wrapped Bitcoin) before funds were converted into ETH. PeckShield also independently confirmed the incident, while ZachXBT revised total losses to $10M+.
Reported wallet balances include roughly 36.75 BTC (about $3M) and around 216 ETH, with additional stolen funds estimated across Ethereum, BNB Chain and Base. Earlier reporting expanded the incident to a multi-chain scope, with assets potentially drained on at least nine chains (including Avalanche, Dogecoin, Litecoin, Bitcoin Cash and XRP), beyond the initial framing.
Market reaction was fast. THORChain’s token RUNE fell about 14% after the news, trading near $0.50 as traders cut exposure. As of the latest report, THORChain had not issued a public statement on the exploit scope, remediation steps, or final loss reconciliation—keeping uncertainty elevated.
For traders, this THORChain exploit reinforces “bridge-style” concentration risk in DeFi cross-chain routing. Any further on-chain movements could extend volatility across majors and raise cross-chain liquidity risk premia, even after immediate price dislocations in RUNE.
Bearish
RUNE is the directly mentioned asset and it fell roughly 14% immediately after the THORChain exploit news. The lack of a clear public statement on scope, remediation, and full loss reconciliation is likely to keep traders pricing higher cross-chain infrastructure risk for longer. If the exploit continues moving funds on-chain, negative sentiment can deepen and pressure RUNE further in the short term, with potential knock-on effects from broader DeFi “trust discount” dynamics.