TheBlock
THORChain suspended all trading on Friday after blockchain security researchers flagged a suspected exploit spanning Bitcoin, Ethereum, BNB Smart Chain, and Base. On-chain investigators ZachXBT and PeckShield both estimated losses at over $10 million, with the attack appearing to drain liquidity across multiple chains simultaneously.
The protocol's decision to pause trading is a standard emergency containment measure, but the breadth of the incident — four chains hit in a single event — raises harder questions about the architecture of cross-chain liquidity pools and the attack surface they present.
This is not an isolated incident for THORChain. The protocol has faced a recurring series of security events over its history, and each recurrence puts fresh pressure on the team to demonstrate that its security posture has materially improved between episodes.
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