THORChain’s suspected multichain exploit and emergency halt on May 15 has turned into another DeFi security incident, and another test of cross-chain trust.
Emergency controls moved through chain-specific halts, Halt All Trading, Halt Signing, Halt Chain Global, Halt Churning, and repeated global node-pause updates.
One public alert described the likely exploit affecting Bitcoin, Ethereum, BSC, and Base, resulting in more than $10.7 million in losses, revised from an earlier $7.4 million estimate.
Another security estimate put the loss near $10 million, including 36.75 BTC and about $7 million across BNB Chain, Ethereum, and Base.
The chain scope was later expanded in a TRM Labs assessment, which reported that the attacker drained more than $11 million across at least nine chains. Those chains included Avalanche, Dogecoin, Litecoin, Bitcoin Cash, and XRP, in addition to the initial four-chain framing. The figures may still move as the accounting is reconciled, but the available rec
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