THORChain, a decentralized cross-chain liquidity protocol, suffered an exploit early Friday, losing approximately $11 million across Bitcoin, Ethereum, Binance Smart Chain, and Base.
On-chain investigator ZachXBT reported the breach, marking the third security incident for the protocol in recent years.
Trading on THORChain was paused following the exploit. The project has not yet issued a public statement.
RUNE fell roughly 13%, from $0.58 to $0.50.
This is a developing story.