Cross-chain router protocol Multichain has been exploited for nearly $130 million after an attacker siphoned capital out of numerous token bridges. A new report from Chainalysis suggests that the withdrawals could potentially point to a hack or rug pull by insiders. "The Hash" panel breaks down the latest developments.
Cross-chain router protocol Multichain has been exploited for nearly $130 million after an attacker siphoned capital out of numerous token bridges. Multichain has been under pressure for over a month because of failing tech and its AWOL CEO. "The Hash" panel weighs in on the latest developments.
“It is recommended that all users suspend the use of Multichain services and revoke all contract approvals related to Multichain,” developers said early Friday.
The actions showcase how Multichain’s faltering infrastructure and AWOL CEO are sending shockwaves through Fantom, the blockchain most heavily dependent on Multichain’s bridges.