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RUNE, the native token of cross-chain decentralized exchange Thorchain, fell about 20% over the past 24 hours and briefly slipped below $0.50. BlockBeats said the short-term decline came as regulatory and security concerns intensified after it was confirmed that hackers routed part of the funds stolen in last week’s Binance hack through Thorchain.
According to on-chain data, the hackers moved about 185.1 million TRX and 3.83 million USDT into Thorchain and swapped roughly $48.3 million worth of crypto across 2,697 transactions. The amount ultimately retained through the laundering process was estimated at about $42.7 million, implying losses of around $5.7 million from fees and slippage.