Last night, July 6, the PeckShield team fixed capital outflow from the Multichain gateway protocol. At first, users suspected a rug pull, but this morning new details emerged that point to a potential hack.
Hi @MultichainOrg you may want to take a look: https://t.co/D4GKGpuBtw pic.twitter.com/3qURqGmes8
— Peck Shield Inc. (@peckshield) July 6, 2023
At the time of writing, on the account of the alleged hacker contained cryptocurrency for $126.3 million. This is 63.28 million USDC, 1.03 thousand wBTC, 7.21 thousand wETH, 4.95 million DAI and 910.65 thousand UNIDX.
Prior to this, a withdrawal of just over $102 million was reported. On the night of July 7, the Multichain administration confirmed the transfer of funds, noting that this was an emergency situation. The team is currently reviewing.
SlowMist analysts also tend to countthat what happened is a hack:
“The movement of capital seems to have stopped. But given the depletion of the bridges, hacking seems more likely than ‘migration’.”
Interestingly, the first transaction went through yesterday afternoon. The alleged hacker first withdrew $2 from Multichain Fantom, apparently testing the vulnerability. Following this, he transferred more than $ 30 million.
At the end of May, the Multichain project had some leadership issues. The protocol was forced to stop working. In addition, rumors circulated on the network that the CEO of the organization was under arrest.
