The Multichain bridge, one of the oldest and more established token bridges used in DeFi, has suffered a $126 million loss in July, making it one of the larger bridge hacks in history.
But this one is different from previous hacks like the Nomad bridge. No code was really compromised, as reportedly the assets were taken by the CEO’s sister. Multichain’s CEO, known only as Zhaojun, was apparently apprehended by Chinese authorities a few weeks prior.
The CEO’s disappearance wreaked havoc on the team’s operations, according to their own report. Zhaojun held several important keys that were important for the operation and maintenance of the protocol. According to the explanation published by the Multichain team, they had asked his sister for access to these keys via cloud backups. Allegedly, she then took the money “for safekeeping” only to be arrested herself shortly after.
The incident highlighted what some industry experts and insiders knew all along: Multichain was an extre
We współpracy z: https://cryptodaily.co.uk/2023/07/spotting-the-next-multichain-how-to-evaluate-crypto-bridges
