Multiple bridge contracts operated by Multichain have experienced large-scale abnormal outflows of various tokens, with a total value exceeding 130 million US dollars.

Multichain's multiple bridge contracts have seen significant abnormal outflows of various tokens, totaling over 130 million USD.

Multiple bridge contracts operated by Multichain have experienced large-scale abnormal outflows of various tokens, with a total value of more than $130 million, including almost all holding assets of wBTC, USDC, USDT, and a few altcoins on Multichain’s Fantom bridge. Michael Kong, CEO of the Fantom Foundation, said an investigation is underway. Assets transferred from the Multichain Fantom bridge, including at least $20 million in altcoins such as DAI, LINK, and USDT, were transferred to an address beginning with 0x9d57. Other transferred assets include 1,023 wBTC (approximately $30.9 million), 7,214 wETH (approximately $13.6 million), and $57 million in USDC.

Assets locked on the Multichain MPC address have been abnormally moved to an unknown address. The team is unsure of what happened and is currently investigating. It is recommended that all users pause the use of Multichain services and revoke any contract approvals related to Multichain.

It appears that a significant amount of Multichain tokens have been abnormally flowing out, which seems to have been done by a white-hat hacker who took away nearly 10% of the funds, and used 2 USDT, 2 USDC, and 2 BIFI wallets.

Reference: https://www.coindesk.com/business/2023/07/06/multichain-bridges-experience-unannounced-outflows-of-over-130m-in-crypto/

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