THORChain has restored trading on Bitcoin, Ethereum and several other networks after a weekend halt, while BNB Smart Chain, Cosmos Hub and Solana still show warnings. According to CoinMarketCap, the RUNE token traded around $0.64 on Wednesday, up approximately 15% over the previous day. The disruption began when a one-block Ethereum reorganization removed a 10 ETH deposit that THORChain had already credited; after a swap failed its price limit, the protocol issued refunds against funds its vault never received, causing an extra 10 ETH payout and an automatic pause. Chainalysis said the pause had inadvertently delayed laundering of funds stolen in the $6.3 billion Binance hack by North Korean hackers.
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RUNEcryptoBinancecybersecurity
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Related tickers and likely impact
RUNE/USDT
▲ Likely positiveTHORChain
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $207.0M |
| Close on 11/02/2026 | 0.55800 |
| Change that session | +0.90% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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- THORChain's RUNE jumps 10% as North Korean hackers resume laundering Binance loot
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THORChain node operators paused swaps involving assets on 10 networks, including Bitcoin, Ethereum, Solana and Tron, after a refund bug surfaced during an Ethereum block reorganization at 11:34 UTC on Saturday. A 10 ETH deposit that THORChain had credited was removed by the reorg, yet the protocol still refunded it while also refunding the sender's actual deposit, creating an extra 10 ETH payout that triggered an automatic pause. The team warned that a malicious actor could exploit this mismatch during future block reorganizations on external chains. According to Chainalysis, the halt also delayed North Korean hackers' laundering of funds stolen in last week's $6.3 billion Binance hack, since they could not swap through most of THORChain's bridges. Meanwhile, the FBI urged node operators and DeFi services to block transactions tied to addresses used by TraderTraitor, and founder John-Paul Thorbjornsen opposed shutting the protocol down in response to pressure over illicit funds.
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RUNE rose more than 13% to $0.67 from a local low of $0.59 at 12:20 a.m. UTC, according to TradingView data, after Binance confirmed the $6.3 billion hack. Onchain investigator ZachXBT said funds stolen from Binance and Bitget's September hack passed through THORChain and were combined at the same Ethereum address, and that the Bitget attack was attributed to North Korea-linked TraderTraitor. TRM Labs and Chainalysis also linked the Binance hack to the group. North Korean hackers had previously used THORChain to launder funds from the $1.4 billion Bybit hack and the $388 million Bitget hack. THORChain rejected Bitget CEO Gracy Chen's call to block the attacker's addresses, saying it cannot block individual swaps, though node operators can pause trading across a blockchain or the network. Validator TCB threatened to leave unless the protocol stopped processing North Korea-linked funds.
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Changpeng Zhao (CZ), Binance's founder, says AI could increase cyberattacks in the short term and make banks easier to hack than crypto exchanges. He calls for common security standards, sharing of intrusion experiences and faster freezing of stolen assets; according to The Block, discussions on an industry security alliance have begun but no concrete agreement has been reached. The warning follows the Binance attack on 29/10, which affected about 6.3 billion USD in assets. CoinDesk reported that researchers have found no evidence that AI directly controlled the laundering of the stolen funds. In Vietnam, the State Securities Commission (SSC) asked securities firms and fund management companies to step up information system safety checks and prepare incident response plans.
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Grayscale's head of research, Zach Pandl, said the $6.3 billion Binance hack could be a temporary setback for crypto confidence but should ultimately push exchanges toward stronger security. He highlighted institutional custody, noting that US-based crypto exchange-traded products hold assets at state-chartered banks and qualified custodians, using offline storage, multi-signature wallets, SOC attestations and insurance. Binance pledged to cover all customer losses, the FBI attributed the attack to North Korea, and Kim Yo Jong dismissed the allegations as “absurd rhetoric.” Bitcoin fell below $77,000 and BNB lost more than 8% over 24 hours, but total crypto market capitalization rebounded 2% over the past 24 hours to about $2.63 trillion by Wednesday, still roughly $100 billion below its Oct. 28 level. Bitwise's André Dragosch told Cointelegraph that recent outflows from US spot Bitcoin ETFs reflected a short-term risk-off environment rather than a structural change in institutional sentiment.
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Binance hackers have moved about 81% of the stolen Solana (SOL) and continue laundering funds through THORChain after the protocol resumed swaps. Wallets linked to the attackers held 182,443 SOL, worth $16.9 million, or about 18.8% of the 970,522 SOL stolen, according to Arkham, and the funds were split across wallets, sold for USDC, bridged to Ethereum and ultimately swapped into Bitcoin. The FBI attributed the attack to North Korea's TraderTraitor hackers and urged crypto providers to block transactions linked to stolen assets, which Kim Yo Jong, sister of North Korean leader Kim Jong Un, dismissed as ‘absurd rhetoric.’ THORChain had halted services after an Ethereum block reorganization exposed a refund bug, a pause that Chainalysis said inadvertently delayed the laundering. Chainalysis also estimated that about $500 million moved through Tron.
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