Cross-chain liquidity protocol THORChain has been hit by a coordinated exploit spanning at least four major networks, with stolen funds already surpassing $10 million, according to onchain investigator ZachXBT. The sleuth issued the alert via Telegram on Friday, detailing the multi-chain breach.
The exploit targeted THORChain across Bitcoin, Ethereum, BNB Chain, and Base, per ZachXBT's post. The stolen funds have surged past $10 million, though the full extent of losses may not yet be known as the investigation continues.
THORChain enables trustless swaps between disparate blockchain networks, making it a critical piece of decentralized finance infrastructure. The incident underscores persistent security vulnerabilities in cross-chain protocols, which have been a recurring target for attackers seeking to exploit bridge and liquidity mechanisms.
The timing of the exploit comes amid heightened scrutiny of DeFi security, with billions of dollars lost to hacks in the past year alone. For THORChain, the breach could erode user confidence in its ability to safeguard assets during cross-chain transactions.
Notably, ZachXBT has not yet provided details on the exploit's methodology or whether the THORChain team has responded to the incident. The investigation remains ongoing, and further updates are expected as more information emerges.