CryptoNews: The Multichain MPC bridge platform has experienced unusually big outflows, raising concerns of a possible exploit worth over $100 million. 👀
All users are recommended to stop using Multichain services and revoke all contract approvals.
Multichain is a multi-party computation bridge network that mints derivative assets on the second chain after verifying that assets have been locked on the first chain. The network asserts that the cryptographic keys controlling this procedure are divided into numerous shards and distributed around the system, prohibiting any one individual or entity from making unauthorized withdrawals.
Nevertheless, during the past few weeks, the platform has been dealing with unidentified technical issues, resulting in slow transaction processing and Binance pausing withdrawals of various Multichain derivative tokens.Related Articles
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Score a like-new iPad Air and Beats Flex headphones for only $100You know what they say about an Apple deal a day…
Read more »
Washington state department slapped with $100 million fine for neglecting mental health services in jailsThe Washington DSHS was ordered by a federal judge to pay over $100 million in fines for not providing sufficient mental health services to people with mental disorders in Washington state jails.
Read more »
Get $30 off your internet and $100 toward a computer with the Affordable Connectivity ProgramAffordable Connectivity Program provides $30 off your internet bill and $100 towards a computer.
Read more »
Multichain attack triggers Twitter phishing scheme for FTM distributionRelentless hackers strike again, spreading fraudulent FTM distribution on Twitter after the Multichain hack.
Read more »
Scam Alert: Multichain Hack Victims Targeted by Fantom (FTM) ImpersonatorsBeware of scam: No, Fantom Foundation does not plan to reward those affected by Multichain saga with FTM tokens
Read more »
Circle, Tether freezes over $65M in assets transferred from MultichainOver $65 million in assets tied to the cross-chain router protocol Multichain have been frozen by stablecoin issuers Circle and Tether.
Read more »