THORChain RUNE Surges 15% Amid Major Hack Laundering Activity
Key Summary
THORChain's RUNE token gained 15% over a 24-hour window while the wider crypto market shed $160B following a $6.30B hack on Binance. On-chain transaction records confirm hackers funneled millions through THORChain bridges, driving network swap volumes to $62.08M and pushing daily RUNE trading volume up by 393%.
Key Bullets
- THORChain native token RUNE jumped 15% over twenty-four hours while the broader crypto market shed $160B in total capitalization.
- On-chain transaction data monitored by AMBCrypto showed $62.08M in mainnet swap volumes tied directly to laundering funds from the Binance hack.
- Network fee revenue hit a weekly high of $11K as daily trading volume for the RUNE asset surged by over 393% on major spot exchanges.
- Technical indicators showed the Chaikin Money Flow rose from -0.04 to 0.31 while MACD histogram bars turned green and expanded.
RUNE Rallies Despite Market Carnage
THORChain native token RUNE climbed 15% over a 24-hour window Tuesday as the broader crypto market lost $160B in total capitalization following the Binance exploit. According to on-chain transaction records detailed by AMBCrypto, the sharp divergence from the rest of the digital asset market occurred as illicit funds flooded the cross-chain liquidity protocol.
Daily trading volume for RUNE surged by over 393% on spot exchanges. Network swap volumes on the mainnet hit $62.08M while bridges processed an additional $94M through external wallets. Liquidity providers watched transaction fees spike to a weekly high of $11K.
Hackers Funnel Stolen Capital Through Bridges
Public on-chain data confirms threat actors used THORChain to launder capital stolen during the Binance breach, which drained roughly $6.30B from the CEX. Transaction tracking revealed that funds were routed to a deposit address identical to one that previously received $388M from the Bitget security incident.
Out of the total laundered volume crossing the protocol, $8.94M was converted directly into Bitcoin, while Ethereum accounted for $6.17M of the swapped assets. Other assorted tokens made up the remaining $1.18M in routed funds.
Protocol Lacks Freezing Capabilities
Market participants expressed mounting concern regarding THORChain's refusal to freeze illicit funds, contrasting sharply with competitor networks like Arbitrum One that successfully locked stolen assets. Official statements posted by THORChain accounts on social media platforms deflected direct responsibility for the exploit routing.
Traders on X openly mocked the protocol statements as network activity metrics continued to climb. The CMF indicator printed a reading of 0.31, up from -0.04, confirming aggressive capital inflows into the pool.
Technical Resistance Stalls Price Action
On the technical front, RUNE climbed from an intra-day low of $0.58 up to $0.723 before sellers stepped in to defend the overhead supply zone. The altcoin failed to hold ground above $0.70, a price ceiling that has capped upside momentum for the past month of trading.
MACD histogram bars turned green and expanded on the 4-hour chart, signaling persistent buying pressure from momentum traders. The asset risks consolidation between $0.60 and $0.70 unless bulls manage a decisive daily close above the $0.70 resistance barrier.
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