Thorchain suspended trading after blockchain researchers detected a suspected exploit that drained approximately $10 million from the protocol. The breach appears to span four major networks — Bitcoin, Ethereum, BNB Chain, and Base — making it a broad cross-chain attack rather than an isolated incident. RUNE, Thorchain's native token, fell 12% following the announcement.
Direct holders of RUNE are facing immediate losses and should expect continued volatility while the protocol remains halted and the full scope of the exploit is unclear. More broadly, this is a reminder that cross-chain bridges and decentralized liquidity protocols carry elevated smart contract risk — any DeFi exposure should be sized accordingly. Until trading resumes and an independent audit confirms the vulnerability is patched, RUNE carries outsized downside risk.
Immediate: Thorchain's official communications for a post-mortem report and timeline to resume trading. Watch for on-chain analysis from blockchain security firms (like Chainalysis or PeckShield) identifying the attack vector. No fixed date yet — monitor Thorchain's X account and governance forums daily.
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