Multichain Faces Major Security Breach: Operations Halted After $122 Million Loss

Multichain Faces Major Security Breach: Operations Halted After $122 Million Loss

Withdrawals totaling approximately $102 million were observed from Multichain’s Fantom bridge on the Ethereum side.
The Multichain Moonriver bridge contracts experienced a withdrawal of $5,872,661, resulting in approximately $700,000 left on the platform.
On July 6, the crypto community and blockchain analysts noticed significant outflows from the Multichain MPC bridge platform, raising suspicions of a potential exploit involving millions of dollars. Notably, withdrawals totaling approximately $102 million were observed from Multichain’s Fantom bridge on the Ethereum side. 
Furthermore, the Dogechain bridge experienced a withdrawal of $666,000, while the Multichain Moonriver bridge contracts witnessed outflows totaling $5,872,661.The withdrawals from the Fantom bridge’s Ethereum smart contract consisted of 7,214 Wrapped Ether (WETH) tokens with an approximate value of $13.6 million, 1,024 Wrapped Bitcoin (WBTC) worth around $31 million, and $58 million worth of US Dollar Coin (U

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