THORChain, a decentralized liquidity protocol, has halted trading operations following a hack involving the theft of over $10 million, as identified by blockchain researcher ZachXBT. The THORChain alerts Telegram channel announced that all trading and signing processes have been paused, with the global node pause extended until block 26191149, approximately 12 hours and 42 minutes. This is reported by Cointelegraph.com reports .
The attack affected the Bitcoin, Ethereum, BNB Chain, and Base networks. A wallet identified by Arkham as belonging to the THORChain hacker contained $10.8 million, which was transferred via several small transactions within 30 minutes. This incident has heightened concerns regarding the security of DeFi protocols, as hackers managed to steal over $634 million in April.
According to DefiLlama, this is the highest monthly loss since the record $1.46 billion in February 2025. While THORChain has not yet issued an official statement, security firms such as PeckShield and ZachXBT have confirmed the suspicious activity.
Following these reports, the price of THORChain's RUNE token fell by 13%, trading at around $0.51 according to CoinGecko data. The token's value has declined by 72% over the past year. Due to its cross-chain functionality, THORChain is often mentioned as a platform used for laundering stolen funds.
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