RUNE Climbs as Binance Hack Funds Reportedly Routed Through THORChain
THORChain's RUNE token gained more than 13% after on-chain investigator ZachXBT linked stolen Binance funds to the cross-chain protocol.
AfroEuropa Newsroom
AfroEuropa desk
THORChain's RUNE token rose by more than 13%, moving from a low of $0.59 to roughly $0.67, as a recent Binance hack drew fresh scrutiny to the cross-chain protocol's role in transferring stolen cryptocurrency, according to BitKE.
On-chain investigator ZachXBT reported that funds tied to the Binance exploit moved through THORChain before being gathered at an Ethereum address that is also connected to a $387.5 million Bitget hack in September. Both incidents have been linked to North Korean hacking operations.
According to BitKE, THORChain's permissionless design lets users swap assets across blockchains without approval from centralized exchanges, which makes it harder for platforms to step in once stolen funds enter its liquidity infrastructure. In the Bitget case, the attacker used the protocol to convert stolen assets into Bitcoin and moved about $83 million in stolen XRP across multiple wallets.
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