THORChain’s RUNE Rallies as Binance Hack Funds Move Through Protocol
Summary
RUNE rose more than 13% to about $0.67 after Binance disclosed a breach with an estimated $6.3 billion impact. Investigators reported that funds linked to the Binance incident and a $388 million Bitget hack passed through THORChain, a permissionless cross-chain swap protocol. The report says THORChain has also been used to move funds tied to the 2025 Bybit attack. THORChain has said it cannot block individual swaps, though node operators can pause trading on a chain or across the network. The incidents have renewed debate over how decentralized protocols should respond when their infrastructure is used to transfer stolen assets; the price rally does not establish increased confidence in the protocol.
