THORChain hacked, losing $10M+ in crypto; RUNE token drops 15% amid security concerns

THORChain suffered a major exploit on May 15, losing over $10 million in cryptocurrencies across multiple networks including Bitcoin, Ethereum, BNB Smart Chain, and Base Chain. The hacker swapped stolen tokens to Ethereum and moved them to a single wallet, highlighting vulnerabilities in cross-chain bridges. In response, THORChain paused all trading and halted the network, though no official statement has been released. Following the hack, the native token RUNE fell more than 15%, losing $27 million in market value as investor confidence weakened.