THORChain Suffers Over $10 Million Loss from Multi-Chain Exploit
- Loss Estimate Update: Blockchain investigator ZachXBT reported that THORChain's losses have been confirmed to exceed $10 million, up from an initial estimate of $7.4 million, highlighting the severity of the multi-chain exploit and its potential long-term impact on platform trust.
- Trading Suspension Response: In response to the confirmed attack, THORChain immediately paused trading and executed a global emergency halt to limit activity and assess losses, reflecting its commitment to user asset protection and preventing further losses.
- RUNE Price Plummet: Following the spread of the exploit news, THORChain's native token RUNE dropped approximately 15% within minutes, falling from $0.58 to nearly $0.50, indicating the market's sensitive reaction to security incidents, which may undermine investor confidence.
- Cross-Chain System Pressure: This incident underscores the vulnerabilities of cross-chain systems, particularly the difficulty in tracking and recovering stolen assets, as THORChain was previously linked to fund movements from the Kelp DAO attack, raising concerns about its security and potentially affecting future capital inflows.
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Technical Analysis for RUNE
Technical Sentiment Analysis for THORChain (RUNE). As of , THORChain (RUNE) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 6 indicators are flashing buy, while 2 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 | 0.204 | 0.306 | 0.433 | 0.535 | 0.662 | 0.764 | 0.891 |
| Fibonacci | 0.306 | 0.394 | 0.448 | 0.535 | 0.623 | 0.677 | 0.764 |
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