Tens of millions of dollars withdrawn from Multichain on Fantom in possible exploit
Tens of millions of dollars of tokens have been withdrawn from the Multichain bridge on the Fantom network, with security firms speculating that it may be a security breach.
The tokens moved include $58 million of the stablecoin USDC, 1,020 wrapped bitcoin ($30.9 million), 7,200 wrapped ether ($13.7 million) and $4 million of the stablecoin DAI. It also included further tokens like Chainlink and UniDex.
Security firm PeckShield questioned whether this was related to cross-chain platform LayerZero adding support for four tokens, matching those that were moved. Yet this doesn’t align with the complete list of tokens that were moved. LayerZero CEO Bryan Pellegrino also told The Block he is not aware of the current issue and is looking into it.
The Multichain bridge is supported by multi-party computation involving 21 nodes with a combination of them required to sign transactions authorizing the movement of funds. Multichain has previously been exploited in 2021, when it was named Anyswap.
Multichain and Fantom have not yet replied to a request for comment.
This story is breaking and will be updated.
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Author: Tim Copeland
