Circle and Tether have frozen over $65 million in assets linked to the Multichain exploit following an unknown large outflow from the Multichain MPC bridge on July 6.
followAs reported by 0xScope, three addresses that have received at least $63.2 million in USD Coin (USDC) from multichain have been frozen, another report from the Fantom Foundation reports. specifythat more than $2.5 million of Tether (USDT) was withheld from two addresses Etherscan identified as “suspicious multichain addresses.”
Over $125 million worth of cryptocurrencies were withdrawn from multiple wallets on July 6, affecting multichain Fantom bridges including Dogechain, Moonriver, Kava and the Conflux ecosystem. undetermined
Multichain announced thatCurrently suspending the service without specifying the date it will resume. “Please do not use multichain bridging services at this time,” he added, “all bridge transactions are stuck on the source chains.”
Fantom protocol CEO Michael Kong reportedly saythat this large amount of money transfer “It doesn’t appear to be a normal hack,” as the assets sent to the alleged attacker’s wallet were not transferred elsewhere. But the investigation continues.
Multichain, which allows users to transfer tokens between different networks, has faced technical and operational issues since the team’s leadership disappeared a few weeks ago.
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