Lookonchain
THORChain has been exploited across at least four chains — Bitcoin, Ethereum, BNB Smart Chain, and Base — with stolen funds already exceeding $10 million, according to on-chain investigator @zachxbt. The losses were first flagged within minutes of the funds starting to move, suggesting an active attack rather than a delayed disclosure of an older incident.
Why it matters
THORChain is a cross-chain liquidity protocol whose entire value proposition is letting users swap native assets — including Bitcoin — without wrapped tokens or bridges. A successful exploit that drains assets across the very chains the protocol routes between is a direct hit to its core thesis. The protocol has been hit before: a 2021 exploit drained roughly $7.6M, and the project has since operated under an ongoing scrutiny from security researchers who flagged recurring weaknesses in its codebase.
Market impact
The $10M figure is a live count — @zachxbt's framing is that losses are already past that mark, not capped at it. RUNE, the protocol's native token, will be the immediate price tape to watch as liquidity providers weigh whether to pull capital. Cross-chain bridge exploits have historically dragged not just the exploited token but sentiment across the broader DEX category in the hours following disclosure.
Frequently asked questions
-
What happened to THORChain?
On-chain investigator @zachxbt reported that THORChain was exploited across Bitcoin, Ethereum, BNB Smart Chain, and Base, with stolen funds already exceeding $10 million at the time of disclosure.
-
How much was stolen in the THORChain exploit?
Losses crossed $10 million within minutes of the attack being flagged, according to @zachxbt. The figure was described as a live count expected to rise as the attacker's wallets continue to be tracked.
-
Which chains were affected by the THORChain exploit?
@zachxbt named four chains: Bitcoin, Ethereum, BNB Smart Chain, and Base. THORChain routes swaps across these networks as part of its native-asset cross-chain liquidity design.
-
Has THORChain been exploited before?
Yes. THORChain suffered an earlier exploit in 2021 that drained roughly $7.6 million. Security researchers have flagged recurring codebase weaknesses since then, and the protocol has remained under heightened scrutiny.
-
What is the RUNE token doing after the exploit?
RUNE is the immediate price tape to watch as liquidity providers decide whether to pull capital from the protocol. Past cross-chain bridge exploits have dragged sentiment across the broader DEX category in the hours following disclosure.
CoinDesk
Crypto News
WuBlockchain