ZachXBT says THORChain exploit may exceed $10 million

Traders Union
All News
Crypto News
THORChain halts trading

Highlights

ZachXBT estimated THORChain’s possible losses at at least $10 million.
He said the exploit may have affected Bitcoin, Ethereum, BSC and Base.
THORChain paused trading and activated a global emergency halt.
The RUNE token fell about 15% after the warning, dropping from above $0.58 to nearly $0.50.

ZachXBT warning and trading halt

Initial damage estimates pointed to losses above $7.4 million, but ZachXBT later said updated figures showed at least $10 million in stolen assets. He also noted that the estimate still needed full confirmation through on-chain tracing, as the affected chains and amounts were still being checked. According to Crypto.News, the suspected activity may have involved several blockchains, including Bitcoin, Ethereum, BSC and Base.

After the warnings spread, THORChain paused trading and triggered a global emergency halt. The move restricted activity across the network while teams and community members reviewed the routes that may have been used for the disputed transactions. Such measures are typically used when a protocol needs to reduce the risk of further withdrawals or incorrect transaction processing.

How the emergency halt works

THORChain’s documentation says the HaltTrading setting stops trading and observation across all connected chains. At the same time, the THORChain blockchain itself can continue operating, and native RUNE transactions may still be processed. The documentation describes the mechanism as an emergency governance tool that can be activated by network nodes.

This architecture is especially important for THORChain because the protocol supports swaps across different blockchains without a traditional centralized custodian. But the same cross-chain model also makes investigations harder: when assets move quickly between chains, recovering funds and accurately measuring losses becomes much more difficult.

Pressure on RUNE and the cross-chain sector

The market reaction was swift. After ZachXBT’s warning, RUNE fell about 15% within minutes, sliding from above $0.58 to nearly $0.50. Later data cited by crypto.news showed RUNE near $0.5237, with 24-hour trading volume of about $43.3 million and a market capitalization of roughly $183.5 million. The token remained down more than 70% over the past year.

The episode matters beyond RUNE holders. THORChain has previously drawn attention after large fund movements linked to DeFi exploits. In April, according to Crypto.News, assets tied to the Kelp DAO attack moved through THORChain and Umbra, while the total damage from that incident was estimated at about $290 million. The latest case again shows that cross-chain infrastructure remains one of the most vulnerable areas of the crypto market.

It was previously reported that THORChain had suspended operations due to issues related to $200 million in debt.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.