Beosin researchers have discovered a new outflow from Multichain.

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hack_b-min (1)

Beosin researchers discovered a new outflow of funds from the cross-chain protocol Multichain.

According to on-chain analysis, more than $103 million worth of crypto assets were withdrawn to the address 0x1eed63efba5f81d95bfe37d82c8e736b974f477b, including:

  • USDC: $23,999,250
  • fUSDT: $29,657,932
  • WBTC: $2,139,053
  • WETH: $17,168,126
  • ETH $10,102,001
  • DAI : $2,994,317

Beosin experts noted that the transfers were carried out using many networks: Fantom, Arbitrum, Optimism, Cronos, Polygon, Avalanche, BNB Chain, Moonbeam and Ethereum. Accordingly, a significant number of private keys could be required.

The researchers also drew attention to the long intervals between transfers of funds, a pattern that suggests the potential participation of someone associated with the project.

“This is a sign that the attacker may have taken control of all assets and is in no hurry to transfer them. Based on previous analysis, we assume that this may be an internal operation, ”explained Beosin.

The alleged exploit occurred on July 6, after which the platform went on hiatus. The total outflow since the incident amounted to about $230 million.

Recall that Circle and Tether froze assets withdrawn from Multichain for $65 million.

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