Multichain Exploit Hits THORChain, Resulting in Potential Losses of Over $10 Million

THORChain, a popular cross-chain liquidity protocol, has been affected by a multichain exploit that has left investors reeling. The incident has resulted in losses potentially exceeding $10 million across Bitcoin, Ethereum, BSC, and Base.

The attack, which was first linked to blockchain investigator ZachXBT, has drained around 37 BTC and 216 ETH into monitored wallets. This has intensified pressure on RUNE, the native token of the THORChain network, as investors assess the fallout from the incident.

THORChain's trading has been halted pending further investigation and recovery efforts. A formal team statement is still pending, but analysts warn that additional losses or copycat attacks could emerge in the coming days.