USDC issuer Circle has blacklisted three wallet addresses that received a significant outflow of funds from the cross-chain bridge platform Multichain due to the potential security breach.
Security company PeckShield noted that about $63 million in USDC, part of the assets involved in the alarming outflow, has been frozen.
In the incident, $126 million in crypto assets were mysteriously transferred from Multichain’s bridge implementations on Fantom, Moonriver, and Dogechain to various third-party wallets.
After the incident, Multichain tweeted from his official account: “The Multichain service is currently stopped and all bridging transactions remain tied to the source chains. There is no confirmed resume time. Please do not use the Multichain bridging service for now.”
© 2023 The Block Crypto, Inc. All rights reserved. This article is for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial or other advice.