In accordance with an official announcement from Multichain, the locked assets on the Multichain MPC addresses have experienced abnormal transfers to unknown addresses. As a precautionary measure, all users are strongly recommended to temporarily halt the utilization of Multichain services and revoke any contract approvals linked to Multichain.
According to a report from The Block, tokens worth over $100 million have been withdrawn from the Multichain bridge on the Fantom network. Security firms speculate that this incident could be the result of a security vulnerability.
The tokens moved include $58 million of the stablecoin USDC, 1,020 wrapped bitcoin ($30.9 million), 7,200 wrapped ether ($13.7 million) and $4 million of the stablecoin DAI. It also included further tokens like Chainlink, Curve DAO, YFI, Wootrade Network and nearly a quarter of the total supply of UniDex.
It is worth mentioning that Multichain experienced a vulnerability attack on January 10, 2022. During the incident, a total of 1,889.6612 WETH and 833.4191 AVAX were stolen. Through the combined efforts of Multichain and white hat hackers, 912.7984 WETH and 125 AVAX were successfully recovered.