Changpeng Zhao (CZ), the CEO and founder of leading crypto exchange Binance, announced that his company’s users, assets, and platform were unaffected by the recent hack on the cross-chain router protocol Multichain.
The Binance boss tweeted that the exchange had finalized all asset swaps and closed deposits a while before the incident occurred.
Binance Unaffected by Multichain Exploit
On July 6, Multichain experienced abnormal outflows from its bridge contracts to an unknown address, stirring rumors about a multimillion-dollar exploit. While the transfer’s reason is unknown, the Multichain team has asked users to revoke all approvals related to its contracts.
On-chain data shared in a tweet by blockchain security firm PeckShield showed several transactions on the Multichain Fantom bridge. Approximately $58 million in USD Coin (USDC), $13.6 million in wrapped Ether (WETH), and $31 million in wrapped bitcoins (WBTC) were moved from the Fantom bridge’s Ethereum contract.
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