Coinspeaker
Multichain Suspends Services Following $130M Exploit across Multiple Bridges
Open-source cross-chain router protocol Multichain (MULTI) has confirmed that an exploit occurred on its protocol, affecting $130 million worth of tokens. The protocol asked its users to suspend all related transactions for now.
In a recent tweet, Multichain said although it is currently investigating the anomaly, it is not sure exactly what happened. The tweet then warned:
“It is recommended that all users suspend the use of Multichain services and revoke all contract approvals related to Multichain.”
In a subsequent tweet, Multichain said all services have been stopped, and “all bridge transactions will be stuck on the source chains.” The protocol added that there is no “resume time” for restoring the chain or completing its investigation exploit. According to data from CoinMarketCap, MULTI has lost 15% over the last 24 hours and more than 23% in the last 7 days.
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