THORChain Halts Trading After $10.8M Drain from Asgard Vault
- Security Alert: THORChain halted trading and signing operations on Friday after attackers drained approximately $10.8 million from its Asgard vault, raising concerns about potential weaknesses in multi-party computation (MPC) and exacerbating market fears regarding its security.
- Cross-Chain Protocol Impacted: Following an investigation by ZachXBT, THORChain identified suspicious outflows from its vaults across Bitcoin, Ethereum, BNB Chain, and Base, forcing the network to automatically pause trading to prevent further losses, which negatively impacted user confidence.
- Market Reaction: The news led to a roughly 12% drop in RUNE token price, nearing $0.50, reflecting investor concerns over THORChain's security and future operations, which could result in reduced liquidity and user attrition.
- Technical Review and Risk Warning: Ledger's CTO suggested that the incident might involve vulnerabilities in threshold signature scheme infrastructure, casting doubt on THORChain's security record, especially after several high-profile security incidents, indicating an urgent need for enhanced future security measures.
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Technical Analysis for RUNE
Technical Sentiment Analysis for THORChain (RUNE). As of , THORChain (RUNE) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 3 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for RUNE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, RUNE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
THORChain (RUNE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.365 | 0.391 | 0.414 | 0.44 | 0.463 | 0.489 | 0.512 |
| Fibonacci | 0.391 | 0.41 | 0.421 | 0.44 | 0.459 | 0.47 | 0.489 |
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