Multichain has become the latest protocol to come under a multi-million dollar attack, with one Whitehat hacker recently returning around $813,000 worth of ETH.
It all started with Multichain. announcethat there is a bug that puts multiple accounts at risk The team behind the protocol urged users to revoke approvals for six tokens – WETH, PERI, OMT, WBNB, MATIC and AVAX – to protect their assets. This inevitably encourages hackers to rush and exploit vulnerabilities.
Three Hackers Snatched Around $1.9 Million worth of Ether However, ZenGo co-founder Tal Be’ery estimates that the total amount stolen is $3 million.
One hacker took $1.43 million from unupdated users. Another hacker offered to refund 80% of the money and keep the remaining $150,000 as a tip. One victim lost more than $960,000 from the exploit. It negotiated with the hacker offering a reward of 50 ETH to the address in exchange for funds.
Basically, Multichain is a multi-chain router protocol. cross-blockchain That allows users to swap and exchange tokens across the network. This reduces fees and greatly streamlines the entire process. The company received $60 million in a seed funding round led by Binance Labs in December.
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