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May / 02- Multichain Exploit Exposes Cross-Chain Vulnerabilities, Raising Red Flags
- May 02, 2024 at 12:04 pm
- Multichain, a cross-chain router, confirmed an exploit resulting in the theft of approximately $130 million in user tokens, prompting the team to suspend operations and advise users to revoke contract approvals. The breach involved significant amounts of USD coin, wrapped bitcoin, and wrapped ether, with impacted tokens spanning bridges on Fantom, Moonriver, and Dogechain networks. As a result, Multichain's MULTI token has experienced a decline of 13% over the past 24 hours.
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