THORChain suffered a multi-chain exploit affecting one of its Asgard vaults, with estimated losses currently ranging from $7.4M to over $10M across Bitcoin, Ethereum, BSC, and Base.

THORChain paused swaps, outbound transactions, and network activity to prevent further losses while validators investigate the incident.

The attack targeted THORChain’s core custody infrastructure, where native assets are held through decentralized TSS-controlled Asgard vaults rather than wrapped bridges. Because these vaults secure native BTC, ETH, and other assets directly, the exploit impacts the protocol’s most critical layer.

The exact exploit vector is still unknown, with early investigation focused on vault management, TSS signing, or possible node compromise. Official post-mortem is still pending.

👉 x.com/TheBlockCo/status/2055223024974970931?s=20