Blockchain investigator ZachXBT issued a community alert on May 15, warning that cross-chain liquidity protocol THORChain likely suffered a multi-chain exploit with losses exceeding $10 million. The alert named Bitcoin, Ethereum, BSC, and Base as the affected chains, and the protocol subsequently paused all trading and executed a global emergency halt.
Initial estimates placed the stolen funds at over $7.5 million, but ZachXBT later revised the figure upward. “I finished accounting again now and it looks to be $10M+ stolen,” he wrote on X, suggesting earlier reports did not capture the full scope of the attack. He also criticized some accounts for failing to verify on-chain data, saying “they did not check the numbers themselves / chains listed.”
The multi-chain nature of the exploit complicates the review process, as funds can move through swaps, bridges, and multiple wallets across separate networks. THORChain has not released official loss figures or a detailed post-mortem, leaving users to rely on external investigators like ZachXBT for updates.
Following the alert, THORChain’s emergency halt stopped all network activity to allow developers and node operators to assess the situation. Such halts are standard in urgent security events but temporarily cut off user access to trading. The incident has renewed scrutiny of THORChain’s security measures, and the community now awaits a formal statement on the cause, affected assets, and potential recovery efforts.
