After Binance suffered a $6.3 billion theft, the RUNE token of THORChain rose by 13%
After Binance confirmed it had suffered a record $6.3 billion hacker attack, the RUNE token of THORChain rose by over 13% on Friday.
According to TradingView data, RUNE rose to $0.67 at the time of publication, showing a significant increase from the low point of $0.59 reached at 12:20 a.m. on Friday Coordinated Universal Time (UTC).
On Friday, Chain Investigator ZachXBT stated that the funds stolen from Binance, as well as those stolen in the hacker attack on September Bitget, passed through THORChain before being transferred to the same Ethereum address.
According to ZachXBT, the attack on Bitget has been attributed to a group associated with North Korea, TraderTraitor. TRM Labs and Chainalysis have also linked this Binance hack incident to that organization.
THORChain allows users to exchange assets between different blockchains. Previously, North Korean hackers used this protocol to launder the stolen funds from the hack on Bybit in February 2025, which amounted to $1.4 billion. This protocol has also been used to transfer the stolen funds from the hack on Bitget, which amounted to $388 million.
After being exploited in Bitget, Bitget CEO Gracy Chen called for the blocking of the attacker's address, stating: "Decentralization is a design principle, not a shield to facilitate the transfer of stolen funds."
THORChain rejected this request, stating that there is no mechanism to prevent individual exchanges. The protocol indicates that node operators can pause transactions on an entire blockchain or across their entire network in order to address security risks.
Bybit Hacker incidents have also caused divisions among contributors. Core developer Pluto announced his departure after the Ethereum transaction suspension measures were lifted; verifiers TCB threatened to withdraw unless the protocol stopped processing funds associated with North Korea.
Since the Bybit hacker incident, THORChain has incurred $5 million in fees and achieved a trading volume of $5.4 billion.
