Multichain temporarily stopped working, as a hack probably occurred

Multichain is a cross-chain protocol. In the Phantom network, millions of dollars worth of tokens were withdrawn through it. Experts considered it an exploit. The site itself decided to temporarily stop work.

What is known at the moment

Experts noticed that 58 million stable Circle coins, about 1020 WBTC worth almost $ 31 million and 7.2 thousand WETH were moved, the amount exceeded $ 13.5 million. Also, about 4 million DAI were withdrawn from the system. In addition, operations were carried out with Chainlink, Curve DAO, UniDex, etc.

The developers of the site reported that indeed those assets that were blocked were not authorized to move. They launched their own investigation.

The developers also pointed to a temporary suspension in the network. Operations will hang in their own crypto networks. At the same time, when the work will be restored, the development team did not inform.

Users noticed that 4.8 million USDC and about one million USDT were withdrawn from the cross-chain.

Fantom Fundation reported that the problem does not concern their own tokens, they are safe. However, their coins have already collapsed by 10% according to CoinGecko.

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