Cryptocurrency platform **THORChain** said more than $10 million was stolen during a security incident on Friday morning. The cyberattack was first identified by blockchain security firm and cryptocurrency investigator **ZachXBT**. Around 6 am EST, both reported that more than 36 Bitcoin, worth about $3 million, and another $7 million in other coins was siphoned from **THORChain**. **THORChain** issued its own statement shortly after confirming the incident. “Trading on **THORChain** is currently halted after a vault was compromised. Initial indications are user funds are safe and only protocol owned funds are affected,” the company said. “The network automatically detected abnormal behavior and halted signing activity, which alerted the broader community and prevented further outbound transactions.” **THORChain** officials said the investigation into the incident is ongoing but explained that one of their six vaults was compromised, leading to a loss of about $10.7 million. The company, founded in 2018 and based in Switzerland, said it is taking a range of other actions to protect its users from further compromise. Last year, one of the founders of **THORChain** had a significant amount of cryptocurrency stolen after a SIM swap attack broke into their account. Cryptocurrency platforms have been battered throughout 2024, with multiple thefts surpassing $200 million in losses and several involving losses of [$26 million](https://therecord.media/26-million-in-crypto-stolen-truebit) and [$40 million](https://therecord.media/step-finance-cryptocurrency-theft-shutdown). Last month, the **Treasury Department** [announced](https://therecord.media/treasury-department-announces-crypto-info-sharing) that it will now share cyber threat intelligence with the cryptocurrency industry in light of a [$280 million theft from the Drift platform](https://therecord.media/drift-crypto-theft-post-mortem-north-korea). Just days after that announcement, alleged North Korean hackers stole [$290 million](https://therecord.media/crypto-north-korea-theft-kelp) from another crypto platform in a complex attack. Last year, more than $2 billion was stolen collectively from dozens of cryptocurrency platforms.