THORChain Suffers $10 Million Theft in Security Breach: Investigation Underway

THORChain Hit by Major Cyberattack: Over $10 Million Stolen

In a significant security breach, cryptocurrency platform THORChain reported that more than $10 million was stolen during a cyberattack on Friday morning. The incident, first identified by blockchain security firm Peckshield and cryptocurrency investigator Zachary Wolk, known online as ZachXBT, has raised alarms in the crypto community.

Around 6 AM EST, both Peckshield and Wolk revealed that over 36 Bitcoin, valued at approximately $3 million, along with an additional $7 million in various other cryptocurrencies, had been siphoned from THORChain’s vaults.

In a swift response, THORChain confirmed the breach, stating, “Trading on THORChain is currently halted after a vault was compromised. Initial indications are user funds are safe and only protocol-owned funds are affected.” The company highlighted that the network’s automatic detection system identified abnormal activity, halting signing processes and alerting the community, which helped prevent further outbound transactions.

According to THORChain officials, the investigation into the breach is ongoing, but they confirmed that one of their six vaults was compromised, leading to a total loss of approximately $10.7 million. The Switzerland-based company, founded in 2018, is now implementing a range of measures to bolster security and protect its users from future incidents.

This incident is not an isolated one; the cryptocurrency industry has faced a barrage of cyberattacks throughout 2026, with multiple thefts exceeding $200 million in losses. Notably, last year, one of THORChain’s founders fell victim to a hacking incident involving alleged North Korean hackers, resulting in a loss of $1.2 million worth of cryptocurrency.

In light of the growing threat landscape, the U.S. Treasury Department recently announced plans to share cyber threat intelligence with the cryptocurrency sector. This decision came after a staggering $280 million theft from the Drift platform, and just days later, another alleged North Korean hacking group stole $290 million from a different crypto platform in a sophisticated attack. Collectively, over $2 billion was stolen from various cryptocurrency platforms last year alone.

As THORChain navigates this latest challenge, the broader cryptocurrency community remains on high alert, emphasizing the need for enhanced security measures in an increasingly volatile digital landscape.

For more insights into the evolving world of cryptocurrency security, stay tuned to Recorded Future’s Intelligence Cloud.