Multichain bridge, virtual currency equivalent to over 14.6 billion yen illegally leaked Revoke recommended to users

Is cryptocurrency illegally leaked?

Blockchain security company Peckshield pointed out on the 7th that crypto assets (virtual currency) worth 14.6 billion yen were withdrawn from the bridge of the cross-chain router protocol “Multichain”.

Hi @MultichainOrg you may want to take a look: https://t.co/D4GKGpuBtw pic.twitter.com/3qURqGmes8

— PeckShield Inc. (@peckshield) July 6, 2023

The target bridge is connected to the Fantom blockchain. At this time, Multichain and the Fantom Foundation have said they are aware of the situation and are investigating.

Multichain also explained that an abnormal remittance was made. He called on all users to stop using Multichain and revoke all associated contracts.

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…

— Multichain (Previously Anyswap) (@MultichainOrg) July 6, 2023

According to Etherscan, the remittance pointed out by Peckshield was made around 18:00 on the 6th. The number of remittances is USDC twice, Wrapped Bitcoin (WBTC) and Wrapped Ether (WETH) once each, for a total of four times. The total amount remitted is as follows.

• USDC: 57.8 million USDC (equivalent to 8.3 billion yen)
• WBTC: 1,023 WBTC (equivalent to 4.45 billion yen)
• WETH: 7,214 WETH (equivalent to 1.94 billion yen)

In addition, it has been pointed out that there may have been multiple outflows of other brands such as DAI and Chainlink (LINK). At the time of writing this article, the three issues whose quantities are mentioned above have not moved from the address to which they were originally sent.

Details such as the cause should be announced in the future, but it is possible that the Multichain bridge was hacked. According to “The Block”, Multichain was hacked in July 2021 under the name “Anyswap”, with 2.39 million USDC (equivalent to 300 million yen at the current rate).

LayerZero is irrelevant

When Peckshield pointed out above, LayerZero’sTweetQuote. The tweet announced that USDC, USDT, WBTC and WETH are now available on Fantom via LayerZero’s protocol. Peckshield asked if LayerZero’s support might have something to do with this withdrawal.

However, Bryan Pellegrino, CEO of LayerZero, told The Block, “This time, it is only possible that Multichain was attacked, and LayerZero has nothing to do with it.” Indeed, it has been pointed out that other cryptocurrencies may have been illegally leaked in addition to the four brands that LayerZero has started offering to Fantom.

The post Multichain bridge, virtual currency equivalent to over 14.6 billion yen illegally leaked Revoke recommended to users appeared first on Our Bitcoin News.