THORChain Exploit knack pass $10M across chains as RUNE dey slump
Tracking firms Arkham Intelligence and investigator ZachXBT don flag “THORChain Exploiter” wallets wey connect to the THORChain exploit. Dem say about $7.2M move cross many chains (including USDT, USDC and wrapped Bitcoin) before the funds convert to ETH. PeckShield con confirm the matter too, and ZachXBT don update total losses to over $10M.
Reported wallet balances include about 36.75 BTC (around $3M) and roughly 216 ETH, plus additional stolen funds wey dem estimate across Ethereum, BNB Chain and Base. Earlier reports show say the incident fit reach many chains, with assets maybe drain for at least nine chains (including Avalanche, Dogecoin, Litecoin, Bitcoin Cash and XRP), beyond the original story.
Market react quickly. THORChain’s token RUNE drop about 14% after the news, trading near $0.50 as traders cut exposure. As of the latest report, THORChain never release any public statement about the exploit scope, remediation steps, or final loss reconciliation—so uncertainty remain high.
For traders, this THORChain exploit dey reinforce “bridge-style” concentration risk for DeFi cross-chain routing. Any further on-chain movements fit extend volatility across majors and raise cross-chain liquidity risk premia, even after the immediate price dislocations for RUNE.
Bearish
RUNE na be di asset we dem mention straight na, and e drop about 14% sharp after di news say THORChain get exploit. No clear public statement about the scope, how dem wan fix am, and full loss reconciliation fit make traders dey price cross-chain infrastructure risk higher for longer. If the exploit still dey move funds on-chain, negative sentiment fit deepen and pressure RUNE more short-term, plus e fit cause knock-on effects from broader DeFi “trust discount” dynamics.