Multichain protocol Faces Major Exploit With $130 Million Ouitflows
As per reports, multi-chain assets worth a staggering $125 million residing on the cross-chain protocol Multichain outflowed several different wallets. The Fantom bridge seems to face the biggest exploit of $122 million with its entire holdings in wBTC, USDC, USDT, and other altcoins moving out. advertisement Soon after, the Multichain Protocol announced that they are investigating the matter. Through its official Twitter handle, it noted: The lockup assets on the Multichain MPC address have been moved to an unknown address abnormally. The team is not sure what happened and is currently investigating. It is recommended that all users suspend the use of Multichain services and revoke all contract approvals related to Multichain . Multichain has been facing difficulties for more than a month due to technical issues and the absence of its CEO. Concerns arose on crypto Twitter when three unexplained outflows occurred from Multichain’s Fantom, Moonriver,...