Thorchain halts trading after $10 million cross-chain exploit, RUNE token drops 12%
The cross-chain liquidity protocol paused all trading and signing on Friday after an attacker drained roughly $10.8 million across Bitcoin, Ethereum, BSC, and Base....
Key takeaways
- 1Thorchain halted all trading and signing after a $10.8 million cross-chain exploit affecting Bitcoin, Ethereum, BSC, and Base.
- 2RUNE token price dropped 12% following the security breach announcement.
- 3The attack targeted the protocol's cross-chain liquidity mechanisms across multiple blockchain networks simultaneously.
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Why it matters
This incident highlights security risks in cross-chain protocols that Indian crypto investors rely on for multi-chain asset management. Regulatory scrutiny on DeFi platforms may intensify, affecting India's nascent crypto infrastructure.
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