THORChain, a decentralized crypto exchange protocol that functions as a meta layer across multiple blockchains, halted trading on Friday after a suspected exploit resulted in the theft of roughly $10 million worth of crypto assets. The project enables cross-chain swaps of native tokens without wrapping them, which THORchain claims to be a more secure method of trading assets between different blockchains. Funds on multiple blockchains are said to be affected in the incident. Notably, the THORChain team has often described the protocol in communications as unstoppable, and one of the most popular wallets used with it carries the name Unstoppable Wallet. Security researchers first identified suspicious activity involving the compromise of one of THORChain’s Asgard vaults on Friday. The vulnerability appears linked to the protocol’s threshold signature scheme used for managing cross-chain liquidity, which enabled unauthorized outbound transactions from the vault. Losses totaled around $10.7 million initially, with revisions placing the figure closer to $11 million across at least nine chains. Assets stolen included approximately 36.75 bitcoin along with holdings on Ethereum, BNB Chain, Base, Avalanche, Dogecoin, Litecoin, Bitcoin Cash, and XRP Ledger. The protocol’s automated systems detected the abnormal behavior and triggered emergency measures that included halting trading, signing, and global chain operations to contain further damage. It should be noted that THORChain has claimed end user funds were not affected by this incident.