Thorchain: Exploited for Over $7.4M

Blockchain investigator ZachXBT reveals that Thorchain has been hit with an exploit draining over $7.4 million across multiple chains, as detailed in an ARKM Intelligence report. This breach underscores vulnerabilities in decentralized finance protocols, echoing similar hacks in the crypto space over the past year that have rattled investor confidence and triggered sharp sell-offs in affected tokens like RUNE.

On the 4-hour chart, RUNE trades at $0.52, testing the lower support band while hugging the EMA200 at $0.51—a critical long-term floor that could spark a rebound if it holds. But with the EMA50 looming as resistance at $0.58, and MACD confirming a bearish death cross at -0.02, momentum stays weak; RSI at 25.42 screams oversold, hinting at volatility exhaustion near the lower Bollinger band, yet any bounce might fade quickly unless broader crypto market sentiment, including Bitcoin trends, flips positive—watch for confluence here as sellers dominate.