At least three bridge contracts operated by Multichain saw major, unannounced outflows of over $130 million in crypto. realDannyNelson reports
Multiple bridge contracts operated by Multichain saw major outflows of a litany of popular tokens Thursday. There was no immediate explanation for the outflows.of nearly its entire holdings in wBTC, USDC, USDT and a handful of altcoins. Together, the assets were worth over $120 million. On-chain sleuths described the activity as highly unusual; Fantom Foundation CEO Michael Kong told CoinDesk he was “looking into it.”for over a month because of failing tech and its AWOL CEO.
With information hard to come by, some crypto projects began informing their communities Thursday that they were unaffected by the"potential exploit" of Multichain."As of right now, Abracadabra is not affected by the possible Multichain exploit, we are investigating with the involved parties to learn more," the team behind Magic Internet Money stablecoin wrote in the project Discord.
Assets transferred out of the Multichain Fantom bridge, with at least $20 million of the altcoins including DAI, LINK and USDT going to
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