Fantom's Multichain was suspected to have been attacked, and tokens worth more than $100 million were withdrawn

Binance News · 2023-07-07T03:44:11.000Z

According to The Block, over $100 million worth of tokens have been withdrawn from the Multichain bridge on the Fantom network, with security firms speculating that this may be a security vulnerability. The transferred tokens include USDC, a stablecoin valued at US$58 million, 1,020 WBTC (approximately US$30.9 million), 7,200 WETH (approximately US$13.7 million) and US$4 million stablecoin DAI (the value of the above four tokens has been Over $100 million), which also includes other tokens such as Chainlink, Curve DAO, YFI, Wootrade Network, and nearly a quarter of UniDex’s total supply. Assets also appear to be moving on Multichain’s Moonriver bridge, including 4.8 million USDC and 1 million USDT. Dogechain also experienced abnormal fund flows, with at least 660,000 USDC sent to the same wallet as Moonriver’s fund flows.

According to The Block, tokens worth more than $100 million have been withdrawn from the Multichain bridge on the Fantom network, and security companies speculate that this may be a security vulnerability. The transferred tokens include $58 million worth of stablecoin USDC, 1,020 WBTC (about $30.9 million), 7,200 WETH (about $13.7 million), and $4 million in stablecoin DAI (the above four tokens are worth more than $100 million), which also includes other tokens such as Chainlink, Curve DAO, YFI, Wootrade Network, and nearly a quarter of the total supply of UniDex. Assets also appear to be moving on Multichain's Moonriver bridge, including 4.8 million USDC and 1 million USDT. Dogechain also saw abnormal fund flows, with at least 660,000 USDC sent to the same wallet as the Moonriver fund flow.
Security company Paidun questioned whether this might be related to the cross-chain platform LayerZero adding support for four tokens (USDC, USDT, WETH and WBTC), which overlap with the tokens being moved but are not exactly the same. LayerZero CEO Bryan Pellegrino responded that the issue had nothing to do with the platform and believed it was a hack against Multichain. Pellegrino said that Multichain bridge users might withdraw assets and bring them to LayerZero. However, Wintermute research director Igor Igamberdiev said this was most likely done by someone who controls Multichain because the funds on the Fantom side were not destroyed when the transaction occurred. Igamberdiev also pointed out that it was strange that the wallet that received a large amount of USDC had also traded from the old Binance Smart Chain bridge a few hours ago.