CryptoNews: Multichain saw another $103 million transferred to different blockchain addresses, according to security firm Beosin. 🧐
that the exploit was a “hack or rug pull by insiders,” with many ecosystem participants perplexed. Multichain has been locked since May due to technical issues, with users unable to make transactions.
The exploit was due to the project administrator’s keys being compromised, or used by the administrator directly, which led many security experts and analysts to believe it could be a rug pull, according to Chainalysis. Multichain’s CEO, alias Zhaojun, also , adding to the evidence. In crypto, a rug pull is when developers raise funds to deliver a project but then abandon it and fraudulently keep investor funds.Related Articles
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Another $103 million in crypto assets transferred away from Multichain: BeosinOn-chain data revealed a significant outflow of $103 million worth of crypto assets from the Multichain bridge on Monday.
Read more »
Twitter Phishing Scams Users After Multichain Hack | CoinMarketCapCryptoNews: Scammers have started spreading a phishing link on Twitter, falsely linking it to the recent Multichain hack. 🥸
Read more »
Multichain Hack: Fantom Foundation Reveals Next StepsFantom looks to diversify its bridge providers in wake of Multichain woes
Read more »
Connext founder proposes ‘Sovereign Bridged Token’ standard after Multichain incidentThe proposal is intended to limit losses from events like the Multichain incident, where more than $100 million in unexplained withdrawals occurred.
Read more »
Multichain's ‘mysterious withdrawals’ have whiffs of a ‘rug pull’ — Chainalysis'Mysterious withdrawals' and potentially compromised administrator keys at Multichain could signal an internal rug pull, according to analytics firm chainalysis.
Read more »
Multichain Executor has been ‘draining’ AnySwap tokens: ReportThe Multichain Executor contract is ‘draining’ AnySwap tokens and distributing them to personal wallets, says on-chain sleuth Spreek.
Read more »