A major vulnerability has occurred in Multichain Fantom Bridge, a decentralized application that allows users to transfer assets between different blockchains.
According to reports, hackers exploited a vulnerability in the bridge's smart contract to dump millions of dollars' worth of crypto assets, including Wrapped Bitcoin (WBTC), USD Coin (USDC), Dai (DAI), and Wrapped Ether (WETH).
The exact amount of stolen crypto funds is still unclear, but some estimates suggest hackers siphoned off 7214 WETH, 1023 WBTC, 57 million USDC, and an unknown amount of DAI.
Update:
A statement came from Multichain on the subject. Here's what Multichain explains:
Lockdown assets on Multichain MPC have been abnormally moved to an unknown address. The team isn't sure what happened and is currently investigating. It is recommended that all users suspend the use of Multichain services and revoke all contract approvals related to Multichain.
With this statement, Multichain admitted that they were hacked.
The lockup assets on the Multichain MPC address have been moved to an unknown address abnormally.
The team is not sure what happened and is currently investigating.It is recommended that all users suspend the use of Multichain services and revoke all contract approvals…
— Multichain (Previously Anyswap) (@MultichainOrg) July 6, 2023
*Not investment advice.
