Tokens worth millions of dollars have been withdrawn from the Multichain cross-chain protocol on the Fantom network. Experts suggested an exploit, the platform suspended work.
The transferred tokens include 58M USDC, 1020 WBTC ($30.9M), 7200 WETH ($13.7M) and 4M DAI. The transactions also affected Chainlink, Curve DAO, YFI, Wootrade and UniDex coins.
The Multichain team confirmed that the locked assets were being withdrawn without authorization and launched an investigation into the incident.
“The service is currently stopped, all bridging transactions will hang on the source networks. The time for the resumption of services is unknown, ”the developers said.
Users also noted the withdrawal of assets from the Multichain bridge for Moonriver, including $4.8 million USDC and $1 million USDT.
At the Fantom Foundation assured users that the Multichain incident did not affect the network’s own tokens and the assets are safe. However, the FTM price has fallen by 10% over the past 24 hours, the MULTI cross-chain protocol coin has fallen in price by 16% over this period (CoinGecko).
In May, Multichain experienced technical issues during a network upgrade. The team faced difficulties in eliminating them due to the loss of communication with the CEO of the project, Zhao Jun.
As a reminder, Binance suspended support for cross-chain bridge tokens due to the May incident.
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