Multichain vulnerability put a billion dollars at risk, says security firm that found the bug by Timccopeland & Yogita_Khatri5
in crypto could have been “enormous,” according to the company that disclosed the vulnerability last week.providing more details. It said that the amount of money at risk could have been worth more than $1 billion.
Multicoin is a cross-chain protocol that allows its users to swap tokens across blockchains. According to Dedaub, the bug led to two major vulnerabilities in two blockchain contracts. The bug impacted a few accounts looking after huge sums of money, a bridge between the Ethereum and Fantom blockchains, some of the same contracts on other blockchains and 5,000 addresses that had interacted with the Multichain protocol.
The main would-be victim account, the AnySwap Fantom Bridge, was holding over $367 million in WETH by itself, said Dedaub. The risk on the other networks, i.e., Binance Smart Chain, Polygon, Avalanche, and Fantom, was estimated at around $40 million, said Dedaub.
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.
Menlo Park sites leased to Facebook get half-billion-dollar investmentA big-time real estate investor has bought a stake in a large tech campus in Menlo Park that’s leased to Facebook in a deal worth well over a half-billion dollars.
Read more »
Social media searches can prevent bad hiring decisions and even save time for employersWorkplace advice: In addition to reference checks, 90% of employers now use social media to evaluate job candidates
Read more »
No respite for China's stressed out supply chains as Covid-zero and new year holidays take a tollAhead of China's lunar new year, air freight rates have spiked and shipping firms have suspended services, putting the spotlight on overwhelmed supply chains.
Read more »
OpenSea Faces Front-End Vulnerability, User Makes 347 ETH Exploiting ItThe largest Ethereum NFT marketplace faces a vulnerability, but losses are not so bad (at least for now)
Read more »
Blockchain metaverse ecosystems gain traction as brands create digital experiencesBrands and companies are creating virtual fan experiences in blockchain-based Metaverse environments, but will this resonate with the mainstream or just native-crypto users?
Read more »