THORChain suffers $11M exploit, RUNE price drops 13% amid security concerns

THORChain, a decentralized protocol for cross-chain swaps, was reportedly exploited for about $11 million across multiple blockchains including Bitcoin and Ethereum. This marks at least the third major security breach for THORChain in recent years, leading to a pause in trading on the platform. The incident caused the RUNE token to fall roughly 13%, reflecting shaken investor confidence. The project has not yet issued a public response, and the situation is still developing.