THORChain’s RUNE token suffered a double-digit plunge Friday after blockchain researchers flagged a suspected $10 million exploit across multiple networks. The liquidity protocol quickly halted operations as the scale of the breach became clear.
What researchers found
The breach wasn't limited to a single chain. Researchers identified suspicious activity spanning several networks that THORChain supports, pointing to a coordinated exploit worth roughly $10 million. The exact method hasn't been disclosed, but the cross-chain nature of the attack is notable for a protocol built to swap assets between blockchains.
Market reaction
RUNE dropped sharply within hours of the news breaking. The token had been trading relatively stable before the exploit was made public. Double-digit losses wiped out recent gains, and trading volume spiked as holders rushed to exit positions. Some exchanges paused RUNE deposits or trading pending further updates from the team.
Protocol response
THORChain's developers hit the pause button on the entire protocol soon after the breach was confirmed. That means no swaps, no liquidity provision, no withdrawals — effectively a full shutdown. The halt remains in effect as developers investigate the breach's origin and scope. No timeline for resumption has been given, and the community is waiting on a post-mortem.
